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
Response on Proposed Changes to Transaction Rules
On May 22, ISDA and the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association submitted a joint response to the Australian Securities and Investments Commission's (ASIC) consultation on proposed changes to the ASIC Derivative Transaction Rules (Reporting)...
EBA FRTB-ASA Benchmarking Support for Newly In-scope Banks
A new regulatory requirement is expected to bring additional EU banks into scope for submitting Fundamental Review of the Trading Book (FRTB) Alternative Standardized Approach (ASA) capital as part of the European Banking Authority’s (EBA) benchmarking exercise. ISDA Capital Models...
Joint Letter on Sunset of Swaps TR Rules
On May 20, ISDA, FIA and the Securities Industry and Financial Markets Association (SIFMA) submitted a joint letter to US Commodity Futures Trading Commission (CFTC) to request the CFTC to sunset large trader reporting rules (LTR) rules for physical commodity...
ISDA, SIFMA Letter on SEC-CFTC Harmonization
On May 19, ISDA and the Securities Industry and Financial Markets Association (SIFMA) submitted a joint letter to the US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC) on SEC and CFTC harmonization, as part...