Meeting Date:
Wednesday, November 9, 2011
CFTC Staff:
Gary Gensler
John Lawton
Sarah Josephson
Organization(s):
BlackRock
Fidelity Investments
Goldman Sachs Asset Management
MFS
PIMCO
SIFMA
Vanguard
Wellington
Davis Polk and Wardwell
External Attendees:
Ila Eckhoff, BlackRock
Christine Ayotte-Brennan, Fideltiy Investments
Matt Nevins, FidelityInvestments
Wendy Yun, Goldman Sachs Asset Management
Arthur Liz, Goldman Sachs Asset Management
Nevin Bregasi, MFS
Tracey Jordal,PINCO
Bill DeLeon,PIMCO
Tim Cameron, SIFMA
Bradley Edgell, SIFMA
Peter Ryan, SIFMA
Bill Thum, Vanguard
Charlie Mulhern, Wellington
Matt Shea, Wellington
Dan Budofsky, Davis Polk and Wardwell
Susan Ervin, Davis Polk and Wardwell
Additional Information:
Topics discussed: Importance of bilateral margin for both initial and variation margin, use of margin models approved by prudential authorities, time needed to establish third-party custodian accounts, timing of margin collection, expanding the types of acceptable collateral to include agency paper and agency-issued mortgage pools, revising initial margin calculation methodologies, and the limitation on thresholds to those entities that are regulated for capital purposes is too narrow.
