ISDA Response to FASB’s Exposure Draft on Reference Rate Reform

On October 7, 2019, ISDA’s responded to the Financial Accounting Standards Board’s (FASB) exposure draft file reference number 2019-770 on reference rate reform (Topic 848). ISDA members support the FASB’s proposals in the exposure draft to provide optional expedients and exceptions to applying US GAAP to derivatives and hedging relationships and other transactions and contracts that will be affected by reference rate reform. ISDA is in favor of the exposure draft’s targeted improvements, but, at the same time, is requesting additional clarification to avoid unintended consequences.

Documents (1) for ISDA Response to FASB’s Exposure Draft on Reference Rate Reform

Recognition of Cross-product Netting is Critical

US regulators are in the process of making important changes to the regulatory capital framework by proposing modifications to the enhanced supplementary leverage ratio, which should help stop it from acting as a non-risk-sensitive constraint on bank capacity – a...

ISDA, GFXD Response to FCA on SI Regime

On September 10, ISDA and the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association responded to the Financial Conduct Authority's (FCA) consultation paper CP25/20 on the systematic internalizer (SI) regime for derivatives and bonds. ISDA and the...