Clearing
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FIA and ISDA respond to BoE CCP operational resilience paper
FIA and ISDA have responded jointly to the Bank of England’s consultation paper (CP) on operational resilience of Central Counterparties. The associations applaud UK authorities for focusing on the operational resilience of the entire financial sector – including Financial Market Infrastructures (FMIs) such as CCPs.
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EU proposal for second layer of CCP skin-in-the-game a win for clearing firms
Recent regulatory actions show an increased focus on issues surrounding CCP recovery and resolution. And based on the EU's CCP Recovery and Resolution Regime, it seems that policymakers have provided national authorities and CCPs with adequate tools to manage a crisis while also balancing incentives for all participants to appropriately manage risk.
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MEPs approve CCP Supervisory Committee candidates
ECON members have voted in favour of Klaus Löber as chair, and Nicoletta Giusto and Froukelien Wendt as independent members of the CCP Supervisory Committee
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FIA Responds to EBA on draft regulatory technical standards under IFR
FIA has responded to the EBA consultation on draft Regulatory Technical Standards (RTS) related to implementation of a new prudential regime for investment firms in the EU.
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CCPs and FCMs in Asia Pacific discuss lessons learned from the crisis
Panelists discuss challenges created by high order volumes and trade backlogs during the peak of market volatility
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IMF, World Bank recommend changes to U.S. supervision of CCPs
The Financial Sector Assessment Program, a joint effort between the International Monetary Fund and the World Bank, has issued its latest review of the United States on 10 August. While the full assessment covered the entire U.S. financial system, the review also included a technical note that note highlighted specific challenges for the supervision of derivatives clearinghouses including "resource constraints" at the US Commodity Futures Trading Commission.
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FIA, ISDA and IIF comment on FSB paper on clearinghouse resolution and equity
FIA, the International Swaps and Derivatives Association (ISDA), and the Institute of International Finance (IIF), (collectively the Associations), submitted a comment on the Financial Stability Board’s (FSB) consultation paper “Financial resources to support CCP resolution and the treatment of CCP equity in resolution.”
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FIA releases midyear 2020 advocacy report
FIA is proud to be your voice and tireless advocate during these challenging times. This has been an extraordinary year like no other we have seen. The COVID-19 pandemic has brought an unprecedented health and economic crisis to our global community. Yet these uncertain times require us to rise to the occasion and meet these problems head-on with creative solutions and innovative ideas. FIA is energized to be your partner through these difficult days ahead.
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FIA and ISDA publish paper on non-default losses at clearinghouses
FIA and ISDA published a primer on the issue of non-default losses (NDL) at clearinghouses.
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Brexit and its Impact on the Cleared Derivatives Markets: A Primer
The UK left the EU on 31 January 2020 and is in a transitional period that ends on 31 December 2020. During this period, EU law continues to apply in and to the UK and UK financial services firms continue to benefit from all existing EU rights, as do EU firms operating in the UK.
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