This consultation seeks input on whether to add a pre-cessation trigger to the permanent cessation fallbacks that ISDA is implementing for LIBOR in its standard documentation.
The consultation is available here.
Due to the market environment resulting from coronavirus (COVID-19), ISDA is extending the deadline for responses to its outstanding consultation on how to implement pre-cessation fallbacks for derivatives. The extended deadline to the consultation is now Wednesday, April 1, 2020.
Please email your response to FallbackConsult@isda.org and clearly indicate that you are submitting a response in the subject line of your email. For your convenience, you can use this form for your responses (but you are not required to do so). Please note that, subject to the one exception described in the next sentence, affiliated entities will be counted as one market participant for purposes of this consultation and should therefore submit one joint response. As one exception to this rule, asset managers that are affiliated with a bank may submit a separate response that will be treated as separate from the bank group’s response (and the asset manager will be counted as a separate respondent).
In advance of the consultation deadline, ISDA held a webinar on March 4 to go through the consultation. A recording of the webinar is available here. The slide presentation with an annex that includes additional background information is available here.
By participating in this consultation, you agree not to use this process for any anticompetitive purpose, and further agree and warrant that you will not engage in any conduct that would cause any other party participating in this consultation to be in violation of any competition or antitrust law or regulation. ISDA has taken and will continue to take safeguards and protections to ensure that the use of the results of this consultation comply with applicable laws and regulations.
Latest
ISDA In Review – June 2025
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in June 2025.
ISDA Presents Lock-Up Agreement Proposal
ISDA is pleased to present the proposed Lock-Up Agreements and CDS – Proposed Auction Solution. “Lock-Up Agreements” are market-wide arrangements, broadly standardized and predominantly integrated with court sanctioned restructuring or bankruptcy processes. Numerous end users will sign material Lock-Up Agreements...
Key Trends in OTC Derivatives Market H2 2024
The latest data from the Bank for International Settlements (BIS) over-the-counter (OTC) derivatives statistics shows a modest increase in notional outstanding during the second half of 2024 compared to the same period in 2023. Notional outstanding for interest rate, foreign...
Request to Extend Relief on No-Action Letter 22-18
On July 3, ISDA requested to extend the relief under the Commodity Futures Trading Commission's (CFTC) no-action letter No. 22-18. ISDA requests that the relief is extended until further action by the CFTC resolves the overlapping and contradictory reporting obligations...