Faster US settlement hit harder than expected, says Citi survey [Yahoo! Finance Canada]
Kentucky First Federal Bancorp (KFFB)
US:NASDAQ Investor Relations:
reuters.com/finance/stocks/companyprofile/kffb.a
Company Research
Source: Yahoo! Finance Canada
By Laura Matthews NEW YORK (Reuters) - A shift to shorter settlement for U.S. securities transactions earlier this year had a greater-than-anticipated impact on market participants across the board, with Europe reporting the greatest hit, a Citigroup survey showed. The U.S. sped up its settlement cycle in May, requiring that equities, corporate and municipal bonds and other securities transactions settle one business day after the trade, instead of two, or T+1. The transition "was more impactful than expected" for 44% of buy- and sell-side firms, the Securities Services Evolution survey said. Europe saw the most impact because of the challenges of managing settlement and funding issues in the middle of the night, it added. Overseas investors use currency trades to fund their U.S. securities transactions. The poll of nearly 500 institutions, conducted in June, gives an insight into how the industry managed the transition globally, and highlights how T+1 was felt across the t
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News
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- Kentucky First Federal Bancorp Announces Fiscal Year ResultsGlobeNewswire
KFFB
Sec Filings
- 11/14/24 - Form 10-Q
- 11/13/24 - Form 8-K
- 10/17/24 - Form ARS
- KFFB's page on the SEC website