CRD5: The Net Stable Funding Ratio

Following the Capital Requirements Directive (CRD) 5 legislative package proposed by the European Commission (EC) in November 2016, ISDA and AFME assessed the main aspects and the potential impacts of the Net Stable Funding Ratio (NSFR). The Industry highlights as NSFR impacts on important categories of transactions can be disproportionate and quantifies an implied burdensome amount of additional regulatory long term funding requirement (€4.5 trn according to a recent ISDA/AFME study)

Documents (1) for CRD5: The Net Stable Funding Ratio

Letter on EU Legislative Reform

On July 1, ISDA and 11 other trade associations published a statement on enhancing the EU legislative and supervisory framework to support market competitiveness. The statement highlights a significant opportunity to strengthen the EU’s regulatory and supervisory framework through the...

Response to CPMI-IOSCO Margin Proposals

On June 29, ISDA submitted a response to a consultation from the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) on updated guidance and public quantitative disclosures to implement the 2025 margin proposals....

US Treasury Repo Clearing Indicators May 2026

The ISDA-Actrix US Treasury Repo Market Clearing Indicators illustrate central clearing adoption in the US Treasury repo market. Sponsored cleared repo volumes are used as a proxy to monitor client participation in central clearing, the key objective of the Securities...