ISDA has responded to a consultation paper from the UK Prudential Regulation Authority (PRA), which proposes a new rule for the PRA Rulebook requiring the contractual adoption of UK resolution stays in certain financial contracts (such as derivatives, repo/reverse repo or securities financing transactions) governed by the law of a jurisdiction outside the European Economic Area (EEA). The proposed rule would apply to UK banks, building societies and PRA-designated investment firms, as well as their qualifying parent undertakings in respect of financial contracts governed by the law of a non-EEA country.
Documents (1) for ISDA response to UK PRA’s consultation on contractual stays
Latest
Response on Proposed Changes to Transaction Rules
On May 22, ISDA and the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association submitted a joint response to the Australian Securities and Investments Commission's (ASIC) consultation on proposed changes to the ASIC Derivative Transaction Rules (Reporting)...
EBA FRTB-ASA Benchmarking Support for Newly In-scope Banks
A new regulatory requirement is expected to bring additional EU banks into scope for submitting Fundamental Review of the Trading Book (FRTB) Alternative Standardized Approach (ASA) capital as part of the European Banking Authority’s (EBA) benchmarking exercise. ISDA Capital Models...
Joint Letter on Sunset of Swaps TR Rules
On May 20, ISDA, FIA and the Securities Industry and Financial Markets Association (SIFMA) submitted a joint letter to US Commodity Futures Trading Commission (CFTC) to request the CFTC to sunset large trader reporting rules (LTR) rules for physical commodity...
ISDA, SIFMA Letter on SEC-CFTC Harmonization
On May 19, ISDA and the Securities Industry and Financial Markets Association (SIFMA) submitted a joint letter to the US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC) on SEC and CFTC harmonization, as part...