On May 20, ISDA responded to the International Accounting Standards Board’s (IASB) Consultation on the Proposed Amendments Interest Rate Benchmark Reform – Phase 2 – Exposure Draft: ED/2020/1. ISDA supports the IASB’s efforts to amend international financial reporting standards in response to interbank offered rate (IBOR) reform, and agrees with the proposed approach to update the effective interest rate when replacing an IBOR with a risk-free rate (RFR). The amendments are necessary to facilitate an orderly transition to RFRs.
Documents (1) for ISDA Response to IASB on Benchmark Reform
Latest
Expanding Legal Agreement Coverage in the CDM
This paper examines the recent extension of the Common Domain Model (CDM)1 to represent two of the most significant, and previously undeveloped, areas of its legal agreement model: umbrella agreements and contract amendments. Umbrella agreements are widely used to document...
ISDA Omnibus Canadian Representation Letter
On September 2, ISDA published the Omnibus Canadian Representation Letter, which combines previously published representation letters drafted to assist firms in compliance with Canadian trade reporting, business conduct, regulatory margin and clearing classification rules. The Omnibus Canadian Letter is designed...
Joint Response on Cross-margining
On August 31, ISDA and FIA submitted a letter to the US Commodity Futures and Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) on the agencies’ joint request for comment on the implementation of portfolio margining and cross-margining...
Accounting for Carbon Credits: Latest Developments
This paper updates and extends the analysis set out in ISDA’s October 2023 paper on accounting for carbon credits. While preserving the original focus on the accounting treatment of voluntary carbon credits (VCCs) and compliance carbon credits (CCCs), it expands...