ISDA and the Association for Financial Markets in Europe (AFME) have published joint position papers on the third Capital Requirements Regulation and the sixth Capital Requirements Directive (CRR III / CRD VI).
The banking proposal was published by the European Commission on October 27 at an important time as policy-makers deal with the fallout from the COVID-19 pandemic and the need to ensure a strong and sustained economic recovery. This makes it even more important that the package is carefully designed and calibrated so that it does not constrain banks’ ability to support the economy.
CRR III also needs to be considered in the context of the EU’s urgent priorities to complete the Banking Union, reduce fragmentation of financial markets and develop and deepen Europe’s capital markets through the establishment of an effective Capital Markets Union.
In this publication, ISDA and AFME present recommendations to ensure CRR III is faithful to the overarching objectives of Basel III but also reflects these priorities.
Documents (5) for ISDA, AFME Publish Position Papers on CRR III
- AFME ISDA CRR III Position Paper(pdf) will open in a new tab or window
- AFME ISDA CRR III CCR Position Paper(docx) will open in a new tab or window
- AFME ISDA CRR III Output Floor Position Paper(docx) will open in a new tab or window
- AFME ISDA CRR III CVA Position Paper(docx) will open in a new tab or window
- AFME ISDA CRR III FRTB Position Paper(docx) will open in a new tab or window
Latest
Refreshing the FX Definitions
A lot has changed in the FX derivatives market since 1998, when the last set of standard definitions for FX transactions were published. Trading volumes have grown substantially, and average daily turnover has risen by six times. Market practices have...
ISDA & EMTA Publish New FX Definitions
ISDA and EMTA, Inc., the trade association for emerging markets, have jointly published a revised set of standard definitions for foreign exchange (FX) derivatives transactions, which update key market practices and consolidate various FX and FX-related product templates and provisions...
ISDA Position Paper on SFDR Review
On February 27, ISDA and the Association for Financial Markets in Europe (AFME) published a position paper on the European Commission’s (EC) proposed revisions to the Sustainable Finance Disclosure Regulation (SFDR 2.0). The paper welcomes the EC’s proposal as a...
ISDA Response to HKMA SFC Consultation on Clearing Rules
On February 27, ISDA responded to a joint consultation by the Hong Kong Monetary Authority (HKMA) and the Securities Futures Commission (SFC) on proposed amendments to schedule 2 of the clearing rules for over-the-counter (OTC) derivatives. The proposed amendments introduce...