On June 30, ISDA submitted a response to the Hong Kong Monetary Authority’s (HKMA) consultation on proposed revisions to the list of jurisdictions referenced in footnote 27 under paragraph 2.3.2 of the Supervisory Policy Manual (SPM) module CR-G-14 (Non-centrally Cleared OTC Derivatives Transactions – Margin and Other Risk Mitigation Standards).
ISDA expressed support for the proposal, which would replace the current reference to Working Group on Margin Requirements (WGMR) jurisdictions with Basel Committee on Banking Supervision (BCBS) member jurisdictions. Under the proposal, comparability would be recognized from the date a jurisdiction implements the relevant margin and risk mitigation standards. The change would expand the list of deemed comparable jurisdictions to 28 BCBS member jurisdictions, including additional markets such as China, Argentina, Indonesia, Mexico, Saudi Arabia, South Africa, and Turkey.
Documents (1) for ISDA submits response supporting HKMA proposal on comparable jurisdictions under the non-cleared margin framework
Latest
Updated OTC Derivatives Compliance Calendar
ISDA has updated its global calendar of compliance deadlines and regulatory dates for the over-the-counter (OTC) derivatives space.
ISDA Feedback on Identifying Reference Data
On July 20, ISDA submitted feedback to the European Securities and Markets Authority (ESMA) on draft Level 3 guidance on several technical issues caused by the interaction of the recently adopted regulatory technical standard on derivatives transparency (RTS 2) and...
US Basel III Endgame 2026 Update
In March 2026, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation published a new proposal for capital rules known as the US Basel III, based...
Episode 59: Reducing Burdens
As she nears the end of her term as chair of the European Securities and Markets Authority, Verena Ross joins The Swap to discuss progress in simplifying and reducing the burden of EU financial regulation, including transaction reporting. Please view...