On June 6, 2022, ISDA submitted a comment letter to the Financial Accounting Standards Board (FASB) in response to its exposure draft (ED). In the letter, ISDA’s members highlighted their support of the proposals to defer the sunset date of topic 848 and clarify the definition of SOFR. ISDA’s members believe the ED achieves the FASB’s objective of easing the burden associated with accounting and disclosing during the transition to interbank offered rates, and identified several areas where the ED’s proposals could be further enhanced.
Documents (1) for ISDA Responds to FASB on Exposure Draft
Latest
Refreshing the FX Definitions
A lot has changed in the FX derivatives market since 1998, when the last set of standard definitions for FX transactions were published. Trading volumes have grown substantially, and average daily turnover has risen by six times. Market practices have...
ISDA & EMTA Publish New FX Definitions
ISDA and EMTA, Inc., the trade association for emerging markets, have jointly published a revised set of standard definitions for foreign exchange (FX) derivatives transactions, which update key market practices and consolidate various FX and FX-related product templates and provisions...
ISDA Position Paper on SFDR Review
On February 27, ISDA and the Association for Financial Markets in Europe (AFME) published a position paper on the European Commission’s (EC) proposed revisions to the Sustainable Finance Disclosure Regulation (SFDR 2.0). The paper welcomes the EC’s proposal as a...
ISDA Response to HKMA SFC Consultation on Clearing Rules
On February 27, ISDA responded to a joint consultation by the Hong Kong Monetary Authority (HKMA) and the Securities Futures Commission (SFC) on proposed amendments to schedule 2 of the clearing rules for over-the-counter (OTC) derivatives. The proposed amendments introduce...