“While enduring significant pressure during the worst of the COVID-19 market volatility, U.S. tri-party repo and U.S. government securities clearance settlement operated without major disruption. That said, the episode did expose some surprising realities.” said Brian Ruane, CEO, Clearance & Collateral Management, BNY Mellon, in his paper The Pandemic Stress Test: Examining the resiliency of US government securities repo and clearance settlement in Q1 2020.

Ruane is also a former member of the UCD Smurfit School North American Advisory Board.

As stated in the release article, “In The Pandemic Stress Test, we share data from our Clearance & Collateral Management business which provides new insight into how U.S. repo markets performed through the volatility. Exploring the events through a number of lenses – including widening repo rate dispersion, demand dynamics for term vs overnight funding, mounting settlement failures and sharply increasing securities clearance volumes – a complete picture emerges of how repo and settlement market infrastructure coped.”

Download the BNY Mellon paper here.

Brian was also previously interviewed for the UCD Business Alumni page, please see the full interview, Brian Ruane – The Global View, here.