IOSCO report examines liquidity in secondary corporate bond markets. The International Organization of Securities Commissions released a report that provides a data-driven analysis of liquidity in the secondary corporate bond markets between 2004 and 2015. The report found that certain market changes, including technology and the growth of electronic trading venues, have altered the characteristics and structure of corporate bonds, but it did not find substantial evidence that liquidity in these markets has deteriorated significantly from pre-crisis norms. (3/7/2017) IOSCO press release.
ISDA OTC Derivatives Compliance Calendar. The International Swaps and Derivatives Association updated its OTC Derivatives Compliance Calendar. (3/1/2017)
FSB discusses implementation and effects of post-crisis reforms at meeting. The Financial Stability Board published a summary of the matters considered at its recent two-day meeting in Cape Town, South Africa, which included discussions of the progress made on both the implementation of post-crisis reforms and the evaluation of their effects and effectiveness; the development of a consistent comprehensive framework for evaluating the post-implementation effects of the reforms; the status of work on financial technology, financial sector misconduct and climate-related financial disclosures; and the effects of reforms on emerging markets and developing economies. (2/28/2017) FSB press release.
ISDA issues SwapsInfo quarterly review. ISDA released its quarterly review of interest rate derivatives and credit default swap index trading activity for the fourth quarter of 2016. (2/28/2017)
Basel Committee releases latest Basel III monitoring report. The Basel Committee on Banking Supervision published a report that presents the results of its most recent Basel III monitoring exercise, which is based on data as of June 30, 2016. The report found that nearly all of the participating banks meet the Basel III risk-based capital minimum Common Equity Tier 1 requirement and the target level CET1 requirement, and a majority of banks reported a Liquidity Coverage Ratio that met or exceeded 100%. (2/28/2017) BIS press release.
CPMI-IOSCO report offers guidance to authorities on uniform global UTIs. The Committee on Payments and Market Infrastructures and IOSCO released a joint report that offers guidance to authorities on the definition, format and usage of Unique Transaction Identifiers to over-the-counter derivatives transactions. (2/28/2017) IOSCO press release.
Basel Committee offers additional guidance on Net Stable Funding Ratio. The Basel Committee published a second set of frequently asked questions and answers on the Net Stable Funding Ratio under Basel III. (2/24/2017) BIS press release.
IOSCO urges members to take permissible steps to ensure fair and orderly markets during variation margin transition. In response to reports that some market participants will be unable to comply fully with the minimum standards for margin requirements for non-centrally cleared derivative by the March 1, 2017, deadline, IOSCO issued a statement that encourages its members to take appropriate measures, as permitted by their legal and supervisory frameworks, to ensure fair and orderly markets during the introduction and application of the variation margin requirements. (2/23/2017)