On April 30, 2021, ISDA and the Association for Financial Markets in Europe (AFME) submitted a joint response to the Prudential Regulatory Authority (PRA) on its consultation on implementation of Basel standards.
The paper sets out the PRA’s proposed rules to implement – through a new PRA Capital Requirements Regulation (CRR) – those parts of the international standards that remain to be implemented in the UK. The paper sets out the proposed new PRA CRR rules in full, including parts of the onshored CRR that are not changing and so are not part of the consultation.
The industry appreciates the objective of the consultation is to leverage the existing regulations now entered into force in the EU. However, there are matters that we believe should be addressed to prevent significant impacts on capital requirements for specific product and risk categories, which could negatively affect the UK’s attractiveness as a venue for global derivatives activity. Furthermore, the industry argues for standards that, although aligned globally, should allow for targeted UK adaptations and improvements where necessary.
Documents (1) for ISDA and AFME Respond to PRA Consultation on Implementation of Basel Standards
Latest
ISDA Publishes Equity Definitions VE, Version 2.0
ISDA has published version 2.0 of the ISDA Equity Derivatives Definitions (Versionable Edition) (the “Equity Definitions VE”) on the MyLibrary platform. This publication includes, among other updates, provisions that can be used for documenting transactions with time-weighted average price or volume-weighted average price features,...
Marking a Milestone - IQ January 2025
It was a different time and a very different market, but 1985 remains a seminal year in the history of over-the-counter (OTC) derivatives – the year that ISDA was established and the very first industry standard document was published. While...
Response to FCA on SI Regime
On January 10, ISDA and the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association (GFMA) responded to questions from the UK Financial Conduct Authority (FCA) on the future of the systematic internalizer (SI) regime. In the response,...
Response to CSA on Clearing Obligation
On December 19, ISDA submitted a response to the Canadian Securities Administrators (CSA) consultation on proposed amendments to the clearing obligation in Canada. The CSA invited comments on the proposed amendments and on the specific question set out in Annex B...