International Swaps and Derivatives Association (Isda)
Super fund FX growth threatens dealer ‘tipping point’
Overseas assets – and hedge ratios – set to grow, but lack of collateral squeezes banks
Tariff volatility pushes banks to tighten close-outs
Lawyers say dealers are looking to update playbooks for terminating derivatives trades
FX defs look to calculation agents for close-out rates
New Isda rule book also set to streamline ‘impossibility’ standard for disruption events
Isda to finalise drafting updated FX definitions this year
New definitions on disruption events and fallbacks are core focus
New rate to give Philippine peso swaps a fillip, post-Isda add
Isda to include new PHP overnight rate and Indonesia’s Indonia in its next definitions update
JPM exec: Post-Archegos disclosure rules tough in practice
Banks may struggle to get required details from clients under Basel proposals, says reg affairs executive
Isda pushes to ‘decouple’ Simm calibration from model changes
Emir 3.0 prompts effort to separate risk-weight revisions from methodology updates
Emir 3.0 threatens lag for Simm revisions
New EU rules could stall changes aimed at improving risk sensitivity of industry margin models
Regulators’ FRTB estimates based on faulty premise – industry study
US market risk capital requirements could more than double if banks abandon IMA
Isda proposes new central hub for critical notices
Trade body seeks industry feedback on one-stop shop for default notices and other critical comms; sceptics say the service is “not a universal solution”
Why Isda ditched ‘off-cycle’ updates for Simm
Ad hoc updates riled industry, while regulators pushed for predictability in model recalibrations
GFMA’s disruption template paused due to Isda definition clash
Close-out framework put on hold as Isda reviews 1998 FX derivatives rule book
Regulatory confusion clouds first annual IM recalculation
Firms dropping out of scope may need to continue posting non-cleared margin in some jurisdictions
Isda survey explores refresh of FX derivatives rule book
Lawyers agree updates to definitions are needed, but some areas of focus may prove controversial
Isda’s fork provision gives crypto market plenty to chew over
Not everyone is happy with the discretion new digital definitions offer to calculation agents
Indonesia readies close-out netting after passing P2SK Law
Bankruptcy law changes remove close-out netting obstacles
Tales from the crypto prompt calls for FX-style market structures
Demands for interdealers and prime brokers to be brought into crypto market in wake of FTX debacle
Big investors undeterred by crypto failures – Goldman exec
Financial institutions are forging ahead with investment plans despite the sector’s recent troubles
Stick to the fax? Isda seeks to revamp close-out notice methods
Plans to update termination notice provisions still won’t quite pull the plug on use of fax machines
Isda docs saved crypto startup that lent to Alameda
Early termination clause allowed Cega to recover $13.6 million in loans to failed trading firm
Gilt volatility to live on in IM and capital models
Even if sterling rates vol subsides, it will impact interest rate and cross-currency swap costs for years