In July, ISDA launched a market-wide consultation on technical issues related to new benchmark fallbacks for derivatives contracts that reference certain interbank offered rates (IBORs). The consultation sets out options for adjustments that would apply to the fallback rate in the event an IBOR is permanently discontinued. Following launch of the consultation, ISDA published a webinar describing the consultation, a set of graphs provided by Bloomberg to illustrate the different term and spread adjustments that are under consideration in the consultation and a set of FAQs.
Today, ISDA published updated FAQs covering questions that market participants have raised since ISDA launched the consultation and a second webinar covering many of the FAQs. This webinar assumes that market participants have viewed the first webinar and reviewed the consultation.
The consultation, FAQs, webinars and Bloomberg graphs are available here. As a reminder, responses are due by October 12, 2018.
Latest
Determining Initial Reference Index for New Trades
On November 25, 2025, ISDA published a Market Practice Note (MPN) to recommend a specific methodology that market participants could elect to use for the purposes of determining the Initial Reference Index for certain new inflation derivative transactions given that...
ISDA Response to FCA on Fund Tokenization
On November 21, ISDA responded to the Financial Conduct Authority’s (FCA) consultation paper CP25/28 on progressing fund tokenization. In the response, ISDA focuses on the use of tokenized assets as both cleared and non-cleared derivatives collateral. Tokenization presents a significant...
ISDA Requests FASB to Consider ASC 815
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ISDA Response to CFTC Tokenized Collateral and Stablecoin Initiative
ISDA has responded to the CFTC’s Request for Input on the Tokenized Collateral and Stablecoin Initiative, offering perspectives on how tokenization and GENIUS Act–compliant payment stablecoins might contribute to more efficient and resilient collateral practices in derivatives markets. The letter...