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
A Global Blueprint for Market Risk Reform
The global financial crisis of 2007-2009 exposed fundamental weaknesses in how banks measured and managed risk, and the repercussions were felt by economies all over the world. In response, policymakers sought to rebuild trust and resilience in the global financial...
SwapsInfo Q3 2025 and Year-to-September 30, 2025
Trading activity in interest rate derivatives (IRD) and credit derivatives increased in the third quarter of 2025 compared with the same period in 2024, reflecting shifting monetary policy expectations and broader market conditions. IRD traded notional rose by more than...
ISDA Extends Saudi Arabia Netting Opinions
ISDA has extended its netting opinions for Saudi Arabia to cover regulations published by the Capital Market Authority (CMA) earlier this year that recognize the enforceability of close-out netting. The CMA regulations were published in July, and follow similar rules...
ISDA Publishes ISDA SIMM® Methodology, Version 2.8+2506
ISDA has published the ISDA SIMM® Methodology, version 2.8+2506, which is effective from December 6, 2025. This version of the SIMM includes updates based on the calibration of the main delta risk weights and other parameters using data up to...