ISDA has responded to the International Accounting Standards Board’s (IASB) proposal to amend IFRS 9 Financial Instruments to enable companies to measure certain prepayable financial assets with so-called negative compensation options. ISDA’s members are of the view that it is important this issue is dealt with urgently, given the IFRS 9 application date is in January 2018. In view of this timetable, our members believe it is important for the IASB to limit any amendments made to IFRS 9 and, more specifically, to matters necessary to address the issue that was submitted to the IFRS Interpretations Committee. They do not think it is appropriate for the IASB to add more interpretative guidance by means of additional basis of conclusions paragraphs into the literature, which could have unintended consequences for other financial instruments.
Documents (1) for ISDA Responds to the IASB’s ED/2017/3 Prepayment Features
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Refreshing the FX Definitions
A lot has changed in the FX derivatives market since 1998, when the last set of standard definitions for FX transactions were published. Trading volumes have grown substantially, and average daily turnover has risen by six times. Market practices have...
ISDA & EMTA Publish New FX Definitions
ISDA and EMTA, Inc., the trade association for emerging markets, have jointly published a revised set of standard definitions for foreign exchange (FX) derivatives transactions, which update key market practices and consolidate various FX and FX-related product templates and provisions...
ISDA Position Paper on SFDR Review
On February 27, ISDA and the Association for Financial Markets in Europe (AFME) published a position paper on the European Commission’s (EC) proposed revisions to the Sustainable Finance Disclosure Regulation (SFDR 2.0). The paper welcomes the EC’s proposal as a...
ISDA Response to HKMA SFC Consultation on Clearing Rules
On February 27, ISDA responded to a joint consultation by the Hong Kong Monetary Authority (HKMA) and the Securities Futures Commission (SFC) on proposed amendments to schedule 2 of the clearing rules for over-the-counter (OTC) derivatives. The proposed amendments introduce...