agent report card
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Agent Report Card. March 2013. DTCC Non Confidential (White). Agent Report Card. - PowerPoint PPT PresentationTRANSCRIPT
© DTCC
AGENT REPORT CARD
March 2013
DTCC Non Confidential (White)
© DTCC 2
Agent Report Card
DTCC Non Confidential (White)
This report highlights the performance of the top agents responsible for the processing of CMO/ABS securities in two specific areas of concern:
1) The unavailability of timely rate information.
2) Inaccurate rate information that requires amendment and therefore post payable date adjustments to DTC’s participants.
The impact of each agent on last month’s performance is reflected in bar charts showing “late/amended” information.
In addition, the top three agents with the best record in each category have been highlighted in Green.
© DTCC 3
Agent Report Card - Rankings
DTCC Non Confidential (White)
Rates Open at COB P/D - 1
Late Rates after 3:00 pm Cut-off on P/D
Amended Announcements
Amended Announcements 30
Days + after P/D
Bank of NewYork Mellon
4 5 5 4
Citibank 1 1 2 5
Deutsche Bank 2 1 3 1
US Bank 3 4 4 3
Wells Fargo 5 3 1 2
(Best three in each category highlighted in green)Rankings based on a percentage of an agent's total rates
Agent Report Card
© DTCC 4
5.03% 4.11%0.19% 0.10% 0.00%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
We
lls Farg
o
Ba
nk
of N
ew
Yo
rk M
ellon
US
Ban
k
De
utsc
he
Citib
ank
Conforming Late RatesCMO/ABS Payable on the 15th and 25th
DTCC Confidential (Yellow)
3.14 3.24 4.39 4.58 6.00
1,901 1,034 36 14 0
63.69% 34.64% 1.21% 0.47% 0.00%
-0.24 -0.14 1.01 1.20 2.62
Sigma Level
Number of Late Rate
As a Percentage of TotalLate Rates From All Agents
Deviation From theIndustry Sigma
DTCC Non Confidential (White)
Rates open at COB on P/D –1As a percentage of an agent’s total rates
3.14 3.24 4.39 4.58 6.00
Industry σ: 3.38
© DTCC 5
0.45%
0.14% 0.12%
0.00% 0.00%0.00%0.05%0.10%0.15%0.20%0.25%0.30%0.35%0.40%0.45%0.50%
Ba
nk
of
Ne
w Y
ork
Mello
n
US
Ban
k
We
llsF
arg
o
De
utsc
he
Citib
ank
All Late RatesCMO/ABS Payable on the 15th and the 25th
DTCC Confidential (Yellow)
After 3:00 p.m. EST on payable date and subsequent days As a percentage of an agent’s total Rates
4.12 4.49 4.54 6.00 6.00
112 26 44 0 0
61.54% 14.29% 24.18% 0.00% 0.00%
-0.29 0.09 0.14 1.60 1.60
Sigma Level
Number of Late Rate
As a Percentage of Total LateRates From All Agents
Deviation From theIndustry Sigma
DTCC Non Confidential (White)
4.12 4.49 4.54
6.00 6.00
Industry σ: 4.40
© DTCC 6
1.54%
0.61%
0.13% 0.11% 0.08%
0.00%0.20%0.40%0.60%0.80%1.00%1.20%1.40%1.60%1.80%
Ba
nk
of N
ew
Yo
rk M
ellon
US
Ban
k
De
utsc
he
Citib
ank
We
lls Farg
o
All Amended RatesCMO/ABS
DTCC Confidential (Yellow)
As a percentage of an agent’s total rates
3.66 4.01 4.52 4.56 4.64
387 115 17 4 32
69.73% 20.72% 3.06% 0.72% 5.77%
-0.38 -0.03 0.48 0.53 0.60
As a Percentage of TotalAmended Rates From All Agents
Deviation From
Sigma Level
Number of Amended Rates
DTCC Non Confidential (White)
3.66 4.01
4.52 4.56 4.64
Industry σ: 4.04DTCC σ: 4.73
© DTCC 7
100.00%
86.82%
74.78%
43.75%
29.41%
0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
120.00%
Citib
ank
Ba
nk
of N
ew
Yo
rk M
ellon
US
Ban
k
We
lls Farg
o
De
utsc
he
All Amended RatesCMO/ABS
30 days+ after payable dateAs a percentage of an agent’s total amended rates
DTCC Non Confidential (White)
4 336 86 14 5
0.90% 75.51% 19.33% 3.15% 1.12%
Number of AmendedRates 30 Days +
As a Percentage of TotalAmended Rates From All Agents
© DTCC 8
Monthly Sigma Versus TargetsConforming Structured Securities - Payable 15/25
DTCC Non Confidential (White)
Open rates at COB on P/D-1
3.24
6.00
4.584.39
3.14
2.50
3.00
3.50
4.00
4.50
5.00
5.50
6.00
Bank o
f New
Yo
rk Mello
n
Citib
ank
Deutsche
US
Ban
k
Wells Farg
o
March Sigma March Industry Average 3.38
March Sigma Target 3.77 Dec Sigma Target 3.8
© DTCC 9
Monthly Sigma Versus TargetsAll Structured Securities – Payable 15/25
DTCC Non Confidential (White)
Rates Received after 3:00pm on P/D
4.12
6.00 6.00
4.49 4.54
3.00
3.50
4.00
4.50
5.00
5.50
6.00
Ban
k o
f New
Yo
rk Mellon
Citib
ank
Deu
tsch
e
US
Ban
k
Wells
Farg
o
March Sigma
March Industry Average .00
March Sigma Target 4.78
Dec Sigma Target 4.79999999999955
© DTCC 10
Monthly Sigma Versus TargetsAll Structured Securities – Amended Rates
DTCC Non Confidential (White)
As a percentage of Total Rates
3.66
4.56 4.52
4.01
4.64
3.00
3.50
4.00
4.50
5.00
5.50
6.00
Ban
k o
f New
Yo
rkM
ello
n
Citib
ank
Deu
tsch
e
US
Ban
k
Wells
Farg
o
March SigmaMarch Industry Average .00March Sigma Target 4.18Dec Sigma Target 4.20066981625568
© DTCC 11
36.74%
30.99%
20.67%
8.58%
1.52%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
We
lls Farg
o
Ba
nk
of N
ew
Yo
rk M
ellon
De
utsc
he
US
Ban
k
Citib
ank
Conforming Late RatesCMO/ABS All Payable Date excluding the 15th and 25th
DTCC Confidential (Yellow)
1.84 2.00 2.32 2.87 3.67
4,184 1,298 494 421 7
65.33% 20.27% 7.71% 6.57% 0.11%
-0.26 -0.10 0.22 0.77 1.57
Sigma Level
Number of Late Rate
As a Percentage of TotalLate Rates From All Agents
Deviation From theIndustry Sigma
DTCC Non Confidential (White)
Rates open at COB on P/D –1As a percentage of an agent’s total rates
1.84 2.00 2.32 2.873.67
Industry σ: 2.10
© DTCC 12
3.96%
2.93%
0.81% 0.75%
0.00%0.00%0.50%1.00%1.50%2.00%2.50%3.00%3.50%4.00%4.50%
Bank of
New
York
Mellon
Wells
Fargo
US
Bank
Deutsche
Citiban
k
All Late RatesCMO/ABS Excluding Payable on the 15th and the 25th
DTCC Confidential (Yellow)
After 3:00 p.m. EST on payable date and subsequent days As a percentage of an agent’s total Rates
3.25 3.39 3.90 3.93 6.00
166 334 40 18 0
29.75% 59.86% 7.17% 3.23% 0.00%
-0.22 -0.09 0.42 0.45 2.52
Sigma Level
Number of Late Rate
As a Percentage of Total LateRates From All Agents
Deviation From theIndustry Sigma
DTCC Non Confidential (White)
3.253.39
3.90 3.93 6.00
Industry σ: 3.48