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Market participants are relieved after the Second Circuit recently affirmed the lower court's decision in Kirschner v. JP Morgan Chase Bank, N.A.1 applying the Reves four-part test to conclude...
In the ruling decided by the United States Second Circuit Court of Appeals on Aug. 24 in Kirschner v. JP Morgan, the court upheld the District Court’s decision stating that the...
Key Points - On August 24, 2023, a three-judge panel of the 2nd Circuit unanimously held that the syndicated term loans at issue were not “securities” under the test articulated ...
Deposits developments and bank funding in the US and euro area (I) Rubric Bank funding in the US (cumulated monthly differences in outstanding amounts in USD bn since end-March 2022; SA bank deposit, NSA bank bonds) (image) Mar-22 Jun-22 Sep-22...
On August 15, 2022, the Board of Governors of the Federal Reserve System (the "Federal Reserve") finalized guidelines that the regional Federal Reserve Banks ("Reserve Banks")...