On Aug. 6, DTC issued notice to members on CCLF annual attestation.
DTC, FICC issued Notice GOV1733-24 and Notice MBS1347-24 providing reminders for annual capped contingency liquidity facility (CCLF) attestation, on CCLF obligations.
Annual Attestation
Clearing members of Mortgage-Backed Securities Division and netting members of Government Securities Division must execute officers’ certificate, on CCLF obligations.
Members expected to track settlement activities that generate liquidity needs across all trading desks and notify FICC of anticipated significant changes in such activity.
Must identify contact persons responsible for responding to inquiries on the activity.
As part of enhanced due diligence, FICC will request additional data and a written liquidity plan to demonstrate how member incorporated CCLF into its liquidity planning
If member totals show significant monthly or semi-annual increase, FICC may require that member provide interim attestation that it can meet the higher CCLF obligation.
Certification Due Date
Members must submit fully executed CCLF officers’ certificates by Sep. 20, 2024.
