On November 17, ISDA and FIA submitted a joint response to the Bank of England’s (BoE) consultation on the power to restrict central counterparty (CCP) discretionary payments. In the response, the associations welcome the BoE’s proposed power to direct CCPs to temporarily restrict or prohibit discretionary payments to shareholders or employees of CCPs, defined under schedule 11, paragraph 13 of the Financial Services and Markets Act 2023.
The associations acknowledge that this new power is an important component within the BoE’s supervisory toolkit. This can serve to support a CCP’s financial resilience in times of stress, potentially helping to reduce the likelihood that a UK CCP would reach a point where it is failing or likely to fail, thereby safeguarding financial stability in the UK, as well as in third countries where clearing members are established.
Documents (1) for Response to BoE Consultation on CCP Discretionary Payments
Latest
Tender Issued for DC Administrator Role
ISDA and the Credit Derivatives Governance Committee have issued an invitation to tender for an independent regulated entity to serve as the administrator for the Credit Derivatives Determinations Committees (DCs), which includes assuming the role of DC secretary. The DC...
ISDA SIMM: The Standard for IM Calculations
The ISDA Standard Initial Margin Model (ISDA SIMM) plays an important role in ensuring margin calculations are consistent, transparent and aligned with global best practices and regulatory requirements. Since its launch in 2016, the model has been rigorously tested, regularly...
ISDA In Review – October 2025
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in October 2025.
ISDA Wins Regulation Asia Award
ISDA has been awarded Outstanding Contribution to Regulatory Reform for the ISDA Digital Regulatory Reporting (ISDA DRR) initiative by Regulation Asia at its eighth annual Awards for Excellence. The ISDA DRR helps market participants comply with regulatory reporting requirements by...