ISDA/IIF/GFMA response to the BCBS 253 CD: Capital Treatment of Bank Exposures to CCPs

On September 27, the International Swaps and Derivatives Association, Inc. (‘ISDA’), the Institute of International Finance (‘IIF’) and the Global Financial Markets Association (‘GFMA’) (together ‘the Associations’) responded to the Basel Committee on Banking Supervision (‘BCBS’) Consultative Document ‘Capital treatment of bank exposures to CCPs’ (issued for comment on 28 June 2013).

The response is focused on elements of the consultative document that stand to motivate and influence the expansion of central clearing.

Documents (1) for ISDA/IIF/GFMA response to the BCBS 253 CD: Capital Treatment of Bank Exposures to CCPs

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...