The term "payment in lieu" is used in Internal Revenue Bulletin (IRB) 2004-3. The author assessed the overall value of trade settlement failures in the US bond markets at around $600 bn (as of April 2008) in the initial analysis, which began in 2007 and was published 10 years ago (Trimbath, 2011). The failure rate fell to an average of 5.7% in 2020, while it peaked at over 12% on March 18, 2020, with a value of $866 bn, up 44% from April 2008 (10.5% in real dollar terms). While the overall amount of government debt issued increased, increases in total government debt only accounted for 2.2% of the rise in settlement failures. In this update, the author looks at the "how" of settlement failures and how payments in place of interest may be dispersed by brokers who "failed to receive" bonds for their customers at settlement. The author also offers an update on regulatory systemic difficulties. In this context, the author believes it is vital to propose a topic that extends beyond the US: the enactment and implementation of a European Union settlement discipline system. This study examines the scope of the problem of settlement failures in the US bond markets, as well as the consequences of these failures for investors and taxpayers. Bond transaction failure rates vary dramatically during the year, across years, and across various types of bonds. Several regulatory agencies' efforts to date have been inadequate in controlling the problem. Moral hazard will not be eliminated until the Settlement Discipline Regime (SDR) is fully implemented in global finance markets.

The second paper, "The Relationship Between Derivatives Market and Financial Market Development: Innovation Accounting Analysis" by Anu K M, claims that derivative instruments have a derived demand that is not only tied to the actual economy, but also to the general level of financial development and to the underlying assets in the spot capital markets. The derivatives market is seen to have a favorable impact on economic development by speeding up capital accumulation and making investments more efficient, according to the study. As a risk hedging instrument, it also minimizes uncertainty in the economic system. The link between derivatives markets and financial market development is examined in this paper. The roles of spot market, capital market and financial intermediaries, and financial deepening in the development of the financial market were evaluated. The study used both variance decomposition and impulse response analysis to analyze the link between financial market indicators and the derivatives market. From April 1998 to March 2021, the needed data was gathered. Capital market expansion has an impact on derivatives, according to the study. The impulse response study reveals that derivatives do not impact capital market expansion; rather, the opposite is true. Financial deepening paves the way for the development of new derivatives.

The third paper, "Factors Influencing the Selection of Life Insurance Service Provider: A Comparative Study of Public and Private Sector Life Insurance Companies", by Santhosh C H, postulates that expansion and stability of India's financial sector are critical to the country's economic prosperity. The insurance industry plays a prominent role in the country's financial system. Since the nationalization of the sector until the current changes enabling private and international participation, it has evolved in stages. Since then, there have been several hazards of uncertainty, both macroeconomic and microeconomic in character, which have resulted in an increase in people's stress levels. The study's objectives are to examine consumer preferences for public and private insurance companies, to determine the level of awareness of life insurance policies among insured customers, and to determine the level of satisfaction of insured customers with private and public insurance companies. Student t-test and correlation were among the statistical approaches used in the study to analyze the primary data. Customers' responses and the main motivations for adopting policies were also examined. A life insurance policy provides not just risk coverage but also beneficial advantages. Insurance firms offer a wide range of goods and plans that may be tailored to meet the specific needs of various consumers. Because of increased competition, a majority of insurance service providers now give higher-quality service to customers, resulting in non-price competition in the industry. The study reveals that client awareness is critical before purchasing any insurance product or service. Companies should have tailor-made (well-customized) programs in place for providing need-based service to various consumer groups. More attention should be paid to the rural poor, who are particularly exposed to various health risks and financial difficulties. The service provider's reliability and guarantee of the services it provides must inspire trust in potential policyholders.