TBMA Meeting on Possibility of Reducing Servicing Fees
The Bond Market Association is sponsoring a meeting on January 24th to address the question of whether minimum servicing fees for agency pass through securities should be reduced. In an effort to facilitate a direct dialogue with investors on the issues associated with such a reduction, several major issuers and mortgage-backed securities banks will offer presentations to investors on the implications of reducing servicing fees. Spokespersons from Countrywide and Wells Fargo will be presenters at this meeting. The presentations will be followed by a discussion of the issues and concerns of MBS investors. AMD Executive Committee members, or their designates, are invited to attend on January 24. Meeting details are as follows:
Date: Tuesday, January 24, 2006
Time: 2 p.m. - 4 p.m. EST
Location: 360 Madison Avenue (entrance on 45th Street), 17th Floor, New York City
Call in: 1.800.289.0572 (Domestic) 1.913.981.6643 (International)
Passcode: 684-8556
RSVP: Joseph Sack at 646.637.9265
Questions relating to this meeting may be directed to the attention of Joseph Sack, Executive Vice President of The Bond Market Association or Tom Deutsch, Associate Director of The American Securitization Forum at 646.637.9200.
Federal Reserve Meeting with Group of 14 Dealers
On February 16, 2006, the Group of 14 Major Dealers will meet with the Federal Reserve Bank of New York to continue its discussions on issues and major developments in the credit derivatives markets. At this meeting, the Group of 14 will report on the industry's progress toward enhancing CDS automation and achieving an overall reduction in the number of outstanding CDS confirmations. In its most recent letter to the Fed, the Group of 14 offers target dates by which to achieve its goals. The Market Practices and Standards Subcommittee of the Asset Managers Division, lead by Richard Weil of PIMCO, is reviewing these timeframes and will be providing the Group of 14 with feedback.
Click here to read Group of 14 December 16, 2005 letter to Federal Reserve Bank
AMF Quarterly Business Meeting
The Asset Managers Forum will host its Quarterly Business Meeting on February 15, 2006 in New York City. Business topics on the agenda include:
- Discussion of AMD Initiatives
- Credit Derivatives Processing Resolutions for 2006 - Where Are We Today?
- Measuring Operational Performance in the E-Processing World
- Hedge Funds and Prime Brokers in the Credit Derivatives Market - Navigating Through the Operational Challenges
- Foreign Exchange Settlement
Also, the Quarterly Business Meeting will include Committee breakout sessions for:
- Swaps
- Corporate Actions
- Bank Loans
- STP
This meeting is open to AMF members only. There is no charge for attending; however, pre-registration is required. Click here to view the full meeting agenda and to register.
Fixed-Income Operations Report
The Asset Managers Forum and Greenwich Associates conducted a "Fixed-Income Operational Performance Study". The purpose of this study was to measure the efficiency, timeliness and effectiveness of broker-dealers' operational efforts, as well as the knowledge base and client support provided by sell-side staff. This report presents the results of the research, which demonstrates the importance of developing efficient operations processes.
Click here to read AMF/Greenwich Report
If you are interested in cultivating a further understanding of the operations of your trading counterparty, then register for the February 14 AMF Workshop: "Completing the Picture: Business Insights into the Operations of Asset Managers and Broker-Dealers".
Click here to view the agenda for the 2/14 AMF Workshop and to register