ISDA response to UK PRA’s consultation on contractual stays

ISDA has responded to a consultation paper from the UK Prudential Regulation Authority (PRA), which proposes a new rule for the PRA Rulebook requiring the contractual adoption of UK resolution stays in certain financial contracts (such as derivatives, repo/reverse repo or securities financing transactions) governed by the law of a jurisdiction outside the European Economic Area (EEA). The proposed rule would apply to UK banks, building societies and PRA-designated investment firms, as well as their qualifying parent undertakings in respect of financial contracts governed by the law of a non-EEA country.

Documents (1) for ISDA response to UK PRA’s consultation on contractual stays

Recognition of Cross-product Netting is Critical

US regulators are in the process of making important changes to the regulatory capital framework by proposing modifications to the enhanced supplementary leverage ratio, which should help stop it from acting as a non-risk-sensitive constraint on bank capacity – a...

ISDA, GFXD Response to FCA on SI Regime

On September 10, ISDA and the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association responded to the Financial Conduct Authority's (FCA) consultation paper CP25/20 on the systematic internalizer (SI) regime for derivatives and bonds. ISDA and the...

ISDA Response on Clearing Costs

On September 8, ISDA responded to consultation by the European Securities and Markets Authority (ESMA) on a draft regulatory technical standard on clearing fees and associated costs (article 7c(4) of the European Market Infrastructure Regulation (EMIR)). In the response, ISDA...