CCLF is rules-based liquidity facility that would provide FICC with liquid financial resources to meet its cash settlement obligations in the event of a default.
Default for largest family of affiliated GSD netting members/MBSD clearing members
FICC conducts annual mandatory CCLF test to satisfy requirements of covered clearing agency re liquidity risk management; part of FICC’s role as central counterparty.
Main objectives are to increase members’ awareness of potential capital commitment should CCLF event be declared, assess member understanding of intraday CCLF event.
Effectiveness
Intraday CCLF test will take place on Oct. 24, 2024, from 10:00am to 1:00pm.
Oct. 2024 FICC Testing Notice
On Oct. 1, 2024, FICC issued notice on upcoming CCLF testing on Oct. 24, 2024.
Members are required to provide relationship manager with at least 2 CCLF contacts and ensure they have proper access to RTTM Web and FICC Report Center prior to test.
Regulators
FICC
Entity Types
B/D; Exch
Reference
Nt GOV1791-24, MBS1373-24, 10/1/2024; Nt GOV1775-24, 9/11/2024;
