On September 20, 2019, ISDA sent a letter to the European Commission, co-signed by EBF (European Banking Federation), EACB (European Association of Co-operative Banks (EACB) and ESBG (European Savings and Retail Banking Group), discussing the need to implement equivalence decisions for intragroup transactions as well as possible negative impacts of not extending the intragroup transactions derogation for non-cleared derivatives under EMIR Margin RTS.
The letter suggests priority jurisdictions for the European Commission’s equivalence programme in relation to intragroup transactions, outlining jurisdictions which have implemented – or will soon have implemented- BCBS-IOSCO compliant Margin requirements, hence a legal basis for equivalence determinations by the European Commission. Furthermore, the letter outlines possible negative impacts for banks engaging in various third country jurisdictions if the current derogation on intragroup derogation is not extended.
Documents (1) for Joint Trade Associations Letter on Priority Jurisdictions for Equivalence Decisions Regarding Non-cleared Derivative Intragroup Transactions
Latest
Climate Risk Scenario Analysis Phase 4
Climate scenario analysis has become a useful tool for banks and financial institutions to understand the short- and long-term financial risks associated with climate change, particularly in light of evolving regulations and an increased emphasis on reducing the impact of...
ISDA & EMTA Market Practice 45
ISDA & EMTA jointly published the attached updated market practice regarding the determination of barrier events for Brazilian Real non-deliverable continuously monitored barrier option transactions.
Episode 54: A Modernization Agenda
ISDA’s chair Amy Hong sets out priorities for the association in 2026 and the important role that technologies like tokenization and artificial intelligence will play in modernizing derivatives markets. Please view this page via Chrome to access the recording.
Developing OTC Commodity Derivatives in India
The development of a robust and liquid over-the-counter (OTC) commodity derivatives market in India could support the continued growth of India’s economy given its significant reliance on commodities. A well-functioning OTC market in India would offer several advantages. First, it...