On April 30, 2021, ISDA and the Association for Financial Markets in Europe (AFME) submitted a joint response to the Prudential Regulatory Authority (PRA) on its consultation on implementation of Basel standards.
The paper sets out the PRA’s proposed rules to implement – through a new PRA Capital Requirements Regulation (CRR) – those parts of the international standards that remain to be implemented in the UK. The paper sets out the proposed new PRA CRR rules in full, including parts of the onshored CRR that are not changing and so are not part of the consultation.
The industry appreciates the objective of the consultation is to leverage the existing regulations now entered into force in the EU. However, there are matters that we believe should be addressed to prevent significant impacts on capital requirements for specific product and risk categories, which could negatively affect the UK’s attractiveness as a venue for global derivatives activity. Furthermore, the industry argues for standards that, although aligned globally, should allow for targeted UK adaptations and improvements where necessary.
Documents (1) for ISDA and AFME Respond to PRA Consultation on Implementation of Basel Standards
Latest
ISDA/ASIFMA/GFXD Letter to RBI on INR-Denominated FX Derivatives Reporting
On March 9, 2026, ISDA, ASIFMA, and GFXD submitted a joint letter to the Reserve Bank of India (RBI) in response to the RBI’s Reporting Instructions for Authorised Dealer (AD) Category – I Banks draft directions to mandate the reporting...
IRD Trading Activity FY 2025 and Q4 2025
This report analyzes interest rate derivatives (IRD) trading activity reported in Europe. The analysis is based on transactions publicly reported by 30 European approved publication arrangements (APAs) and trading venues (TVs). Key highlights for the full year 2025 include: European...
A Financial Markets Revolution
Every financial center has its own unique features, but it was particularly fitting that ISDA’s recent Annual General Meeting (AGM) was held in Boston – not only a global hub for asset management and insurance, but also a city that...
ISDA AGM Studio: Nnamdi Okaeme & John Pucciarelli
Marking the 10‑year anniversary of the ISDA Standard Initial Margin Model (ISDA SIMM), Joel Clark, senior director, communications, at ISDA, speaks with Nnamdi Okaeme, ISDA’s head of SIMM, and John Pucciarelli, head of partnerships and director of industry engagement at...