The third day of the ISDA Annual General Meeting on May 12 featured panels on the new normal for derivatives markets, the development of local rules to implement Basel III, the digitization of derivatives documentation and alignment between derivatives and securities financing transaction markets.
Reforms to MMFs Necessary, Says Bailey
The ‘dash for cash’ in March 2020 exposed serious vulnerabilities in money market funds that threaten financial stability, and reforms are necessary to improve their resilience, says Andrew Bailey, governor of the Bank of England.
EU Credibility at Stake on Basel III, Says EBA Chair
The EU must implement Basel III in full and without materially deviating from Basel standards or it will undermine the global framework and weaken the effectiveness of the Basel process, European Banking Authority chairperson José Manuel Campa has said.
Buffer Framework Under Review, Says EC’s Berger
The capital and liquidity buffer framework is being reviewed in Europe after banks showed reluctance to draw down their reserves during the coronavirus crisis, a senior European regulator has confirmed.
Resilience of Markets Critical to Pandemic Response, says O’Malia
Regulatory reforms implemented after the last crisis played a critical role in ensuring the resilience of financial markets during the pandemic, and enabled banks to play a key part in helping the various central bank measures flow through to the real economy, according to Scott O’Malia, ISDA’s chief executive.
Derivatives Markets on Path to ‘New Normal’
The derivatives market has begun the journey towards a ‘new normal’ and will be ready to respond to forthcoming challenges, having proved its resilience during the coronavirus pandemic, according to a group of senior regulators speaking on a panel during the final day of the ISDA Annual General Meeting.
Also in this Issue:
- Digitization Must Begin With Common Standards
- Consistent Deviation from Basel III Could be Best Option
- Opportunities for SFT Alignment Exist
- Thanks to our Sponsors
Please click on the attached PDF to read the full issue.
Documents (1) for IQ in Brief: AGM Special – Day 3
Latest
ISDA Omnibus Canadian Representation Letter
On September 2, ISDA published the Omnibus Canadian Representation Letter, which combines previously published representation letters drafted to assist firms in compliance with Canadian trade reporting, business conduct, regulatory margin and clearing classification rules. The Omnibus Canadian Letter is designed...
Joint Response on Cross-margining
On August 31, ISDA and FIA submitted a letter to the US Commodity Futures and Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) on the agencies’ joint request for comment on the implementation of portfolio margining and cross-margining...
Accounting for Carbon Credits: Latest Developments
This paper updates and extends the analysis set out in ISDA’s October 2023 paper on accounting for carbon credits. While preserving the original focus on the accounting treatment of voluntary carbon credits (VCCs) and compliance carbon credits (CCCs), it expands...
Response to SEC on FICC Guaranty Fund
On September 1, ISDA and FIA submitted a joint response to the US Securities and Exchange Commission (SEC), supporting the Fixed Income Clearing Corporation’s (FICC) proposal to establish a dedicated guaranty fund at its government securities division (GSD). FICC had...