On June 20, ISDA, the Global Financial Markets Association (GFMA) and the Institute of International Finance (IIF) submitted the industry response to the Basel Committee on Banking Supervision’s consultation on proposed revisions to the market risk framework (known as the Fundamental Review of the Trading Book (FRTB)). The changes proposed in the consultation improve the FRTB’s operational robustness, mitigate potentially adverse impacts, and address many of the issues with the FRTB’s initial calibration, particularly for the standard rules.
The revised standardised approach (SA) addresses many shortcomings of the earlier standard. However, the industry believes further changes are necessary – in particular on non-modellable risk factors (NMRFs), which remain an area of concern as the associated capital is still excessive.
Click on the PDF below to read the full submission.
Documents (1) for Industry Submits FRTB Consultation Response
Latest
IRRBB Management in EMDEs
Interest rate risk in the banking book (IRRBB) has become a growing priority for banks and regulators in emerging market and developing economies (EMDEs). As many of these countries face monetary tightening cycles and ongoing macroeconomic volatility, bank balance sheets...
Response to CPMI-IOSCO on Consultation
On February 5, ISDA and FIA responded to the Committee on Payments and Market Infrastructures (CPMI) and International Organization of Securities Commissions (IOSCO) consultation on the management of general business risks and general business losses by financial market infrastructures (FMIs)....
Trading Book Capital: Scott O'Malia Remarks
Trading Book Capital: Capital Conundrum, Navigating Basel III Endgame February 5, 2026 Welcoming Remarks Scott O’Malia, ISDA Chief Executive Good afternoon, and welcome to ISDA’s Trading Book Capital event – it’s great to be here in New York. We...
ISDA In Review – January 2026
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in January 2026.