On September 20, 2019, ISDA sent a letter to the European Commission, co-signed by EBF (European Banking Federation), EACB (European Association of Co-operative Banks (EACB) and ESBG (European Savings and Retail Banking Group), discussing the need to implement equivalence decisions for intragroup transactions as well as possible negative impacts of not extending the intragroup transactions derogation for non-cleared derivatives under EMIR Margin RTS.
The letter suggests priority jurisdictions for the European Commission’s equivalence programme in relation to intragroup transactions, outlining jurisdictions which have implemented – or will soon have implemented- BCBS-IOSCO compliant Margin requirements, hence a legal basis for equivalence determinations by the European Commission. Furthermore, the letter outlines possible negative impacts for banks engaging in various third country jurisdictions if the current derogation on intragroup derogation is not extended.
Documents (1) for Joint Trade Associations Letter on Priority Jurisdictions for Equivalence Decisions Regarding Non-cleared Derivative Intragroup Transactions
Latest
ISDA Wins Regulation Asia Award
ISDA has been awarded Outstanding Contribution to Regulatory Reforms for the ISDA Digital Regulatory Reporting (ISDA DRR) solution by Regulation Asia at its ninth annual Awards for Excellence. The ISDA DRR uses the Common Domain Model to convert an industry-agreed...
ISDA Launches RFP for Trade Eligibility Solution
ISDA has launched a request for proposal (RFP) for the development of a trade reporting eligibility tool for use alongside the ISDA Digital Regulatory Reporting (DRR) solution. The eligibility tool is intended to provide analysis on whether a derivatives transaction...
Joint Response to ETS Review
On November 2, ISDA and the Association for Financial Markets in Europe submitted a joint statement on the European Commission’s call for feedback on the review of the EU Emissions Trading System (ETS). The response highlights the importance of a...
Updated OTC Derivatives Compliance Calendar
ISDA has updated its global calendar of compliance deadlines and regulatory dates for the over-the-counter (OTC) derivatives space.