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Market Infrastructure
ISDA Releases Preliminary Results on Benchmark Fallbacks Consultation
By Garima Chitkara | 28/11/2018
ISDA will likely look to the ‘compounded setting in arrears rate’ and the ‘historical mean/median approach’ to spread adjustment for RFRs that will replace discontinued IBORs.
Capital / Liquidity
APRA Extends Timeline for Capital Reforms to Align with Basel III
By Editors | 27/11/2018
APRA will align capital reforms with Basel III timelines, effectively pushing implementation to 1 January 2022. It has also adjusted the leverage ratio in response to consultative feedback.
Big Picture
Industry Bodies Call for Extended Benchmarks Regulation Transition Period
By Manesh Samtani | 22/11/2018
ISDA, FIA, GFMA and EMTA have jointly published a briefing advocating an extension of the Benchmark Regulation transition period for critical and non-critical benchmarks.
Market Infrastructure
FSB Issues Progress Report on Interest Rate Benchmark Reform
By Manesh Samtani | 15/11/2018
The FSB notes progress to strengthen major IBORs and identify RFRs and other alternative reference rates, highlighting actions taken in Australia, Hong Kong and Singapore.
Big Picture
European Firms Will Have Access to UK Clearing in No-Deal Brexit
By Manesh Samtani | 01/11/2018
European traders will temporarily be able to use UK derivatives clearing services even without a Brexit deal in place, according to the European Commission’s Valdis Dombrovskis.
Market Infrastructure
Market Needs to Do More to Prepare for End of LIBOR – ASIC, RBA
By Garima Chitkara | 24/10/2018
Participants need to be clear that the LIBOR will end after 2021 and prepare to deal with the challenges this presents, Australian regulators said at the ISDA Annual Australia Conference.
Big Picture
ISDA Publishes Updated Template for Close-Out Netting Legislation
By Manesh Samtani | 17/10/2018
Jurisdictions are increasingly seeking guidance on implementing legislation to ensure the enforceability of close-out netting, the “single most important risk mitigation tool in derivatives markets”.
Market Infrastructure
ISDA, EU Industry Bodies Warn of ‘Cliff Edge’ Effects ‘No Deal’ Brexit
By Manesh Samtani | 10/10/2018
New paper proposes steps that can be taken now to mitigate potentially systemic consequences of the UK leaving the EU without a withdrawal agreement and transition period in place.
Fintech / Regtech
Smart Contracts Can Improve Derivatives Market Efficiency – ISDA
By Editors | 04/10/2018
A new white paper by ISDA and King & Wood Mallesons proposes a practical framework for constructing smart derivatives contracts.
Market Infrastructure
ISDA Chief Urges Early Preparation for ‘Enormous Challenges’ of 2020
By Manesh Samtani | 27/09/2018
The industry will need to start preparing quickly to meet the challenges facing the derivatives market, which will reach a critical point in 2020, says ISDA CEO Scott O’Malia.
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