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
Response on ASIC Derivative Transaction Rules
On December 3, ISDA submitted a response to the Australian Securities and Investments Commission (ASIC) consultation on the remake of the ASIC Derivative Transaction Rules (Clearing) 2015, which are due to sunset on April 1, 2026. ASIC proposed to remake...
IRD Trading Activity Q3 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 third quarter of 2025 include:...
Ardagh Credit Event Processing and Trading
The Credit Derivatives Determinations Committee announced on December 15 that a restructuring credit event has occurred with respect to Ardagh. An ISDA Credit Market Infrastructure Group call was held on December 15 to discuss the processing of this event. The...
Future Path - IQ December 2025
At the start of ISDA’s 40th anniversary year, IQ convened the pioneers of the association to reflect on how a desperate need for standardization in the early days of the derivatives market brought dealers together to develop a dictionary of...