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

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...

Eyeing the Basel III Finish Line

An effective regulatory capital framework relies on multiple ingredients, from appropriate drafting to rigorous testing and consultation. Even minor calibration distortions can inflate capital requirements, which could negatively affect the capacity of banks to support deep and liquid markets, with...