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
ISDA Trading Forum Tokyo: CEO Remarks
ISDA Derivatives Trading Forum Tokyo October 17, 2025 Opening Remarks Scott O’Malia ISDA Chief Executive Officer Good afternoon, and welcome to the ISDA Derivatives Trading Forum. It’s great to be back in Tokyo, and I’d like to begin by...
Future of Asset Management in Japan: CEO Remarks
Future of Asset Management in Japan October 17, 2025 Welcoming Remarks Scott O’Malia ISDA Chief Executive Officer Good morning, and welcome to this ISDA event on the Future of Asset Management in Japan. We’re delighted to be holding this...
New Report on Japan's Asset Management Ambitions
ISDA and Crisil Coalition Greenwich shows that derivatives are expected to play a pivotal role in Japan’s ambition to become a global leader in asset management, but some barriers need to be reduced to enable the country’s asset managers to...
The Derivatives Market in Japan
A healthy derivatives market is an important element to Japan’s plan to become a global leader in asset management. Asset managers are eager to increase their use of derivatives to better take and manage risk, but note that there is...