Modifications to the Capital Plan Rule and Stress Capital Buffer Requirement (SIFMA and ISDA)
SIFMA and the International Swaps and Derivatives Association, Inc. (ISDA) provided comments to the Federal Reserve Board of Governors on…
SIFMA provided comments to multiple agencies to inform them of a forthcoming change in market practice for cleared derivatives. Specifically, central clearing counterparties (CCPs) have been working with other market participants (including U.S. and European clearing member firms, law firms and accounting firms) to amend or clarify their terms, rules, and procedures to determine circumstances under which the payment of variation margin (VM) for over-the-counter (OTC) derivatives that are cleared through CCPs constitutes settlement of the exposure, as opposed to collateralization. While the status of implementation of these changes varies across CCPs and clearing member firms, SIFMA wanted to make you these agencies aware of the regulatory capital consequences – resulting from the regulatory capital framework’s recognition of settlement as exposure-reducing – about which clearing member firms may notify their supervisors in coming months.
SIFMA and the International Swaps and Derivatives Association, Inc. (ISDA) provided comments to the Federal Reserve Board of Governors on…
SIFMA provides comments to the Financial Industry Regulatory Authority, Inc. (FINRA) in regards to Regulatory Notice 25-06 which requests comments…
SIFMA provides comments to the Financial Industry Regulatory Authority, Inc. (FINRA) in regards to Regulatory Notice 25-06 which requests comments…