7:00 AM* 

FICC begins to accept from GCF-Authorized Inter-Dealer Brokers (“brokers”) data on GCF Repo® Transactions – Brokers must submit data on a GCF Repo Transaction that they are a party to within five minutes of execution of such Transaction.

7:30 AM to 2:30 PM

Collateral that was lent interbank is returned to the FICC account at the clearing bank of the lender of securities collateral to facilitate substitutions in the event of a request by the lender.

10:00 AM

Dealers must begin affirming or disaffirming GCF Repo Transactions within one half hour of receipt of data on such transactions from FICC.

10:30 AM

Deadline for dealer affirmation or disaffirmation of all GCF Repo Transactions that they are a party to that are executed prior to 10 AM.

1:00 PM

For GCF Repo Transactions executed after 1:00 PM, dealers must affirm or disaffirm GCF Repo Transactions within 10 minutes of their receipt of data on such transactions from FICC.

3:00 PM

Cutoff for GCF Repo Transaction data submission from brokers to FICC including dealer trade affirmation or disaffirmation—all unaffirmed trades automatically affirmed by FICC—notification by FICC to banks and dealers of final positions—collateral allocations begin at 4:00 PM.

4:30 PM

GCF Repo deadline for dealer allocation of collateral to satisfy obligations, after which a late fee will be imposed**.

6:00 PM

GSD kicks off the end of day process.

 

*All times herein are ET. **Or one hour after the close of the securities Fedwire, if later 

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