ISDA and the Association for Financial Markets in Europe (AFME) have submitted a joint response to the European Central Bank (ECB) Guide on Climate and Environmental Risks. For the second year in a row, the ECB has identified climate-related and environmental risks as a key risk driver in the Single Supervisory Mechanism Risk Map for the euro area banking system. This four-month consultation on the ECB Guide to climate-related and environmental risks details how such risks should be managed by banks. As part of a supervisory dialogue in 2021 based on end-2020, significant institutions will be asked to inform the ECB of any divergences of their practices from the supervisory expectations described in the document. Where needed, significant institutions will be expected to promptly start adapting their practices. The industry sets out its general comments submitted as part of the consultation response.
Documents (1) for ISDA, AFME Respond to ECB Guide on Climate and Environmental Risks
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ISDA In Review – August 2026
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in August 2026.
Remove Bureaucracy from Cross-margin Approvals
Cross-margining programs play a critical role in financial markets. By ensuring margin requirements more closely reflect the actual risk of a portfolio of products, they reduce liquidity strain and improve market efficiency, both of which will become even more important...
Joint Response on CCP Resolution
On September 7, ISDA and FIA responded to a Bank of England (BOE) discussion paper on central counterparty (CCP) resolution. The associations support greater clarity on valuation capabilities prior to a crisis scenario and the boundary between recovery and resolution,...
Expanding Legal Agreement Coverage in the CDM
This paper examines the recent extension of the Common Domain Model (CDM)1 to represent two of the most significant, and previously undeveloped, areas of its legal agreement model: umbrella agreements and contract amendments. Umbrella agreements are widely used to document...