GFMA, the International Swaps and Derivatives Association (ISDA) the Institute of International Finance (IIF) submitted a join response to the Basel Committee on Banking Supervision’s consultation on the leverage ratio treatment of client cleared derivatives. The industry believes that in the context of a bank exposure created by a client cleared derivative transaction, the leverage ratio framework should recognize the exposure-reducing effect of initial margin, particularly as it is not used to increase the bank’s leverage.

GFMA FX Division Submits Comments to the BCBS on its Consultative Document “Leverage ratio treatment of client cleared derivatives”

GFMA, FIA, and the Institute of International Finance (IIF), respond to the FSB consultative report of the Derivatives Assessment Team (DAT) on “Incentives to centrally clear over-the-counter (OTC) derivatives” (DAT Report).

GFMA provided comments to the European Commission on its proposed enhanced supervision framework. The letter emphasizes the need for enhanced supervisory standards to support financial stability, market efficiency, and end-user choice.

GFMA, which represents the common interests of the world’s leading financial and capital market participants, believes that Brexit is an issue that has unique and global spillovers, not just isolated to the UK and EU. Brexit is an event of such magnitude that it will affect almost all dimensions of the global economy, including financial services, in some way.

The GFMA White Paper, ‘Brexit: Implications for the Global Financial System’ focuses on issues that our global members have identified as most important to their cross-border businesses and the international investment and economic growth they support.

GFMA and the International Swaps and Derivatives Association, Inc. (ISDA) provide comments to the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (collectively “CPSS-IOSCO”) and requests clarification on aspects of the interim framework for the capitalisation of bank exposures to central counterparties. The groups believe that clarifying the issues noted will contribute to timely and efficient local implementation of BCBS 227 of July 2012.

The British Bankers’ Association, the Futures and Options Association, the Global Financial Markets Association (GFMA), the Institute of International Finance and the International Swaps and Derivatives Association, Inc.(ISDA) provide comments to the Secretariat of the Basel Committee on Banking Supervision Bank for International Settlements in response to the BCBS’ consultative document: Capitalisation of bank exposures to CCPs.