Basel Committee issues FAQs regarding Basel III countercyclical capital buffer. The Basel Committee on Banking Supervision (Basel Committee) published frequently asked questions and other supporting information regarding the implementation of the Basel III countercyclical capital buffer, which requires a buffer of capital, based on the weighted average of buffers in the jurisdictions to which banks have a credit exposure, to protect banks from periods of excess aggregate credit growth. The countercyclical capital buffer will be phased in beginning January 1, 2016. (10/19/2015) BIS press release.
Basel Committee provides update on the adoption status of the Basel regulatory framework. The Basel Committee distributed an updated progress report on the adoption of the Basel regulatory framework, including status updates regarding the adoption of the risk-based capital standards, the liquidity standards, the framework for systemically important banks, the leverage ratio, the revised Pillar 3 disclosure requirements and the large exposure framework. (10/9/2015) BIS press release.
IBA is the new ISDA SIMM crowdsourcing utility. The International Swaps and Derivatives Association, Inc. (ISDA) announced that ICE Benchmark Administration Limited (IBA) was chosen to build and operate a crowdsourcing utility for the ISDA Standard Initial Margin Model (ISDA SIMM™). The ISDA SIMM™ was established as part of ISDA’s Working Group on Margining Requirements (WGMR) implementation initiative to help market participants meet new margining rules for non-cleared derivatives. Through using a common methodology to calculate initial margin, counterparties can avoid the possibility of disputes. The ISDA SIMM™ can be used by any party that is subject to the non-cleared margin requirements. (10/8/2015) ISDA press release.
ICMA creates centralized source for comparison of fixed income trading platforms in Europe. The International Capital Market Association (ICMA) has launched a comparative mapping study of electronic fixed income platforms in Europe. The ICMA Electronic Platform Mapping Study compares the key features and capabilities of 22 electronic trading platforms and information networks that are currently available for trading fixed income in Europe. (10/8/2015) ICMA press release.