On June 6, 2022, ISDA submitted a comment letter to the Financial Accounting Standards Board (FASB) in response to its exposure draft (ED). In the letter, ISDA’s members highlighted their support of the proposals to defer the sunset date of topic 848 and clarify the definition of SOFR. ISDA’s members believe the ED achieves the FASB’s objective of easing the burden associated with accounting and disclosing during the transition to interbank offered rates, and identified several areas where the ED’s proposals could be further enhanced.
Documents (1) for ISDA Responds to FASB on Exposure Draft
Latest
Expanding the Universe of Eligible VM
ISDA conducted a series of interviews with buy- and sell-side firms to understand the drivers of a growing use of non-cash assets as variation margin (VM) for non-cleared over-the-counter (OTC) derivatives and the barriers that remain to expanding the use...
ISDA Response on Hedge Accounting Guidance
On August 14, ISDA responded to an exposure draft from the Financial Accounting Standards Board (FASB). ISDA broadly supports the FASB’s proposed targeted improvements to hedge accounting, including allowing interest rate hedging of held-to-maturity (HTM) debt securities, recognizing all Secured...
Joint Response to EBA Consultation
On August 12, ISDA and the Association for Financial Markets in Europe (AFME) responded to the European Banking Authority’s discussion paper on certain taxonomy key performance indicators (KPIs) and other aspects of the Disclosures Delegated Act under Article 8 of...
Response to JSCC on Clearing Fund Consolidation
On August 12, ISDA responded to the Japan Securities Clearing Corporation’s (JSCC) consultation on its proposal to consolidate clearing fund consumption, calculation and deposit segmentation across six clearing qualifications under the Financial Instruments and Exchange Act. ISDA members broadly support...