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Market Infrastructure
ISDA Seeks Regulatory Clarity on LIBOR Pre-cessation Trigger
By Manesh Samtani | 09/12/2019
ISDA is prepared to re-consult on adding a mandatory pre-cessation fallback clause in LIBOR contracts once it gets clarity from regulators on the implications of a “non-representative” LIBOR.
Market Infrastructure
FSB Releases Final Feedback on SME Financing Study
By Garima Chitkara | 02/12/2019
The FSB undertook a study to understand the impact of Basel III on bank financing of SMEs and found no material impact on their access to capital and credit.
Capital / Liquidity
FSB Adds Toronto Dominion to G-SIBs List
By Editors | 23/11/2019
The addition of Toronto Dominion to the list brings the overall number of G-SIBs from 29 to 30. Deutsche Bank was moved to a lower bucket within the list.
Market Infrastructure
FSB Urges ISDA to Embed LIBOR Pre-Cessation Trigger in Definitions
By Garima Chitkara | 21/11/2019
The FSB says a pre-cessation trigger should be added alongside a cessation trigger as standard language in definitions for both new and outstanding derivatives contracts.
Capital / Liquidity
FSB Prioritises CCP Resilience, Resolvability in Policy Work
By Editors | 15/11/2019
The FSB says it plans to consult on new guidance on evaluating the adequacy of a CCP’s resolution resources, and challenges still remain on aspects of G-SIB resolvability.
Market Infrastructure
New Supervisory Framework for Internationally Active Insurers
By Editors | 15/11/2019
The global framework comprises an enhanced set of supervisory policy measures and powers of intervention, along with an annual IAIS global monitoring exercise.
Market Infrastructure
RBI Issues Stricter Rules on Bank Executive Compensation
By Editors | 06/11/2019
Executive compensation should be at least 50% variable, and at least 60% of the variable pay must be deferred for at least three years, subject to malus/clawback arrangements.
AML / KYC
LEI Use in Onboarding Could Save Banks Up to $4bn Annually
By Editors | 30/10/2019
In addition to cost savings, LEI use in client onboarding would speed up time to revenue, improve compliance and credit risk mitigation, and enable better tracking of suspicious entities.
Market Infrastructure
A Liquid Global Swaps Market Relies on Deference: CFTC’s Quintenz
By Manesh Samtani | 29/10/2019
Market fragmentation poses serious risks to the liquidity and health of the derivatives markets, said CFTC commissioner Brian Quintenz at the ISDA Annual Japan Conference.
Fintech / Regtech
G20 Finance Leaders Agree to Regulate Stablecoins
By Editors | 21/10/2019
Amid warnings from the FSB and FATF, the G20 finance leaders have agreed that no stablecoin project should commence operation until their risks are evaluated and appropriately addressed.
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