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Capital / Liquidity
CBIRC Issues Clarification on Close-out Netting Enforceability
By Manesh Samtani | 02/12/2021
The CBIRC seeks to clarify the enforceability of close-out netting in China, saying the labelling of the country as a “non-netting jurisdiction” has harmed its financial institutions.
Market Infrastructure
Australia to Drop LIBOR in Cross Currency Swaps Trading
By Manesh Samtani | 29/11/2021
BBSW/LIBOR will shift to BBSW/SOFR in cross currency basis swaps trading, though the move presents challenges inherent to an IBOR/RFR pairing.
Market Infrastructure
Japan Unveils Decisions on Treatment of Legacy LIBOR Contracts
By Manesh Samtani | 23/11/2021
Synthetic JPY LIBOR may be used if the contracting parties agree to do so, as well as in “exceptional cases” where it is difficult to proceed with negotiations.
Market Infrastructure
FCA Confirms Rules on Using Synthetic GBP and JPY LIBOR
By Manesh Samtani | 16/11/2021
Synthetic GBP and JPY LIBOR rates will be published until end-2022 and can be used in all legacy LIBOR contracts other than cleared derivatives.
Capital / Liquidity
MAS to Implement Contractual Recognition Requirement
By Mark Johnston | 03/11/2021
Singapore banks have three years to ensure their foreign law financial contracts recognise MAS’ temporary stay powers regarding termination rights.
Securities / Derivatives
China Expands Futures Law to Include OTC Derivatives
By Editors | 28/10/2021
ISDA says the revised draft incorporates several comments it made in its submission to the consultation on the first draft.
Market Infrastructure
JSCC Sets Date for Bulk Conversion of LIBOR Swaps
By Editors | 14/10/2021
Japan Securities Clearing Corporation will conduct a bulk conversion exercise during the weekend of 4–5 December to convert JPY LIBOR contracts to TONA contracts.
Fintech / Regtech
BIS Partners with MAS, BOE, ISDA on Data & Analytics Platform
By Manesh Samtani | 07/10/2021
Project Ellipse explores the use of ISDA’s Common Domain Model to digitally extract, query and analyse large quantities of data in real-time for supervisory purposes.
Capital / Liquidity
Derivatives Are “Essential” to Carbon Markets: ISDA
By Editors | 06/10/2021
Regulatory action is needed to address disproportionately high capital requirements that would be imposed on carbon certificates by FRTB.
Fintech / Regtech
ISDA to Develop Standard Documentation for Crypto Derivatives
By Mark Johnston | 06/10/2021
ISDA CEO Scott O’Malia says a new working group has been formed to develop standard documentation for crypto derivatives.
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