ISDA WELCOMES PUBLICATION OF U.S. DOLLAR PAR SWAP RATES ON H.15

The International Swaps and Derivatives Association, Inc.(ISDA) welcomed the inclusion of the U.S. dollar par swap rates sponsored by ISDA in various publications of the Board of Governors of the Federal Reserve System, including its H.15 Daily Update (www.federalreserve.gov/releases/H15). The rates are published by Reuters Limited based on information obtained from dealers by Garban Intercapital plc. Maturities of 1, 2, 3, 4, 5, 7, 10 and 30 years will be published in the H.15 Daily Update on the business day following the day the rates are effective. The 30-year swap rate was recently added to the maturities sponsored by ISDA. The full range of maturities will continue to be available on the day the rates are effective on the Reuters ISDAFIX1 page.

"Publication of the U.S. Dollar ISDAFIX rates by the Federal Reserve Board is a significant step in the increasing market acceptance of these rates," said Jonathan Moulds, ISDA director and head of its market practice committee. "We continue to see evidence that the swap curve is emerging as a benchmark, and this is one of the clearest indications yet."

The U.S. dollar par swap rates are part of a series of rates for different currencies sponsored by ISDA and available on Reuters based on information collected by either Reuters or Garban Intercapital. Rates for euro, Sterling, Swiss francs and Japanese yen, as well as U.S. dollar swap spreads, are available on various Reuters ISDAFIX pages. Further details are provided on the Reuters ISDAINFO page.

ISDA is an international organization and its more than 475 members include the world's leading dealers in OTC derivatives transactions. ISDA's members also include many of the banks and other financial institutions, government entities, corporations and professional service providers that rely on OTC derivatives to manage their financial market risks with a degree of efficiency and effectiveness that would not otherwise be possible. Information about ISDA and its activities is available on the association's web site, www.isda.org.