FICC Extends Deadlines for Triparty Repo Swaps Smoothly
Published Date: 1/26/2026
Notice
Summary
The Fixed Income Clearing Corporation (FICC) is changing the schedule for certain triparty repo trades to give more time for swapping securities and settling payments. This update mainly affects lenders and borrowers involved in these trades, helping them manage deadlines better without extra costs. The new timing rules are effective immediately, making the process smoother and more flexible.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
End‑of‑Day Deadline Moved to 7:00 p.m.
FICC extended the end‑of‑day deadline for (i) substitutions of Purchased ACS Triparty Repo Securities and (ii) satisfaction of ACS Triparty Collateral Return Obligations and associated cash payments by ACS Triparty Funds Lenders and Borrowers from 5:30 p.m. to 7:00 p.m. (New York City time). This change takes effect January 26, 2026.
Deadlines Aligned with Fedwire and Sponsored GC
The new 7:00 p.m. deadline aligns ACS Triparty end‑of‑day actions with the close of the Fedwire Funds Service at the Federal Reserve Bank of New York and with the 7:00 p.m. deadline for full settlement of the Start Leg required for same‑day Novation; it also aligns with recently extended 7:00 p.m. deadlines for Sponsored GC Trades. FICC states this alignment is intended to facilitate settlement activity.
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