ISDA sends agenda requests to FASB

ISDA has written a letter to the Financial Accounting Standards Board (FASB) requesting that the ability to designate a fair value or cash flow hedge of a foreign currency exposure that arises in connection with cross-border business acquisitions be considered as an agenda topic. This practice is pervasive across industries, narrow in nature, and can be resolved in a short-time frame. This practice is outside the scope of the recent hedging project that led to the issuance of Accounting Standards Update (ASU) 2017-12.

ISDA has also requested that derivative hedging the functional-currency-equivalent proceeds to be received from a forecasted foreign-currency-denominated debt issuance also be discussed. This topic was previously deliberated but left aside for a larger hedging project. This practice is pervasive across industries, narrow in nature, and can be resolved in a short-time frame. This practice is also outside the scope of the recent hedging project that led to the issuance of ASU 2017-12.

ISDA/IIB/SIFMA request to extend 22-14

This joint ISDA/IIB/SIFMA letter requests reporting relief for certain non-US swap dealers in Australia, Canada, the European Union, Japan, Switzerland or the United Kingdom with respect to their swaps with non-US persons.  The joint trade association letter, submitted to CFTC...

A Positive Step to Improve the FRTB in the EU

As the Basel III capital reforms are finalized for implementation in key jurisdictions, ISDA is maintaining a laser focus on making sure the rules are robust and risk-appropriate. Simply put, if capital requirements are set disproportionately high, this will have...