International

The 'Quick Guide' provides a high-level overview of 11 key areas relating to the transition from IBORs (including LIBOR) to risk free rates in the international bond market.

The best practice matrix is aimed at providing an agreed and standardised market guide for firms to use to comply with EMIR trade reporting requirements.

At a recent BIS meeting, participants discussed how existing risk management requirements for banks and insurers could be adjusted to capture climate risk exposures.

Fenergo's Niall Twomey outlines a recipe for e-KYC Utility success, based on research of previous attempts in the marketplace, and looking at current initiatives being explored globally.

Capital instruments amended solely to implement benchmark reforms will not be treated as new instruments for the purpose of assessing their eligibility as Tier 1 and Tier 2 instruments.

ISDA seeks input on whether to add a pre-cessation trigger to the permanent cessation fallbacks it is implementing for LIBOR in its standard documentation.

Respondents selected the ‘compounded setting in arrears rate approach with a backward-shift adjustment’ and 'five-year historical median approach to the spread adjustment'.

At its Plenary, the FATF highlighted the use of digital identity systems, the new standards for virtual assets, and efforts to tackle illegal wildlife trade as some of its key initiatives.

Key international initiatives identified are the Equator Principles, the FSB TCFD Recommendations, the G20 Sustainable Finance Study Group, the NGFS, and the UN SDGs.

Korea has a sound legal and institutional framework. Pakistan is asked to complete its action plan. Countermeasures against Iran are reinstated.