On September 27, the International Swaps and Derivatives Association, Inc. (‘ISDA’), the Institute of International Finance (‘IIF’) and the Global Financial Markets Association (‘GFMA’) (together ‘the Associations’) responded to the Basel Committee on Banking Supervision (‘BCBS’) Consultative Document ‘Capital treatment of bank exposures to CCPs’ (issued for comment on 28 June 2013).

The response is focused on elements of the consultative document that stand to motivate and influence the expansion of central clearing.