ISDA responds on bail-in consultation: ISDA has responded to the Treasury's consultation on the secondary legislation introducing the bail-in tool as part of the Banking Reform Act. It agrees the definition of “protected liabilities” captures derivative transactions documented under an ISDA master agreement, but warns that it may not capture all netting and set-off provisions used in the context of regulatory capital calculations. (Source: ISDA Response to UK HMT on Bail-in Powers Implementation)

Industry responds on clearing members' exposures: ISDA and the Association for Financial Markets in Europe (AFME) have responded to EBA's consultation on the margin period of risk (MPOR) that clearing members must apply when calculating their exposure to their clients. They agree that the liquidation period assumptions used by CCPs are the best standard for setting the minimum MPOR. They ask EBA to clarify that clearing members will not be required to add to MPOR the period that CCPs need to novate a client position when porting. (Source: Response on MPOR RTS)