IOSCO publishes updates on implementation of money market fund and securitization reforms. The International Organization of Securities Commissions updated its peer reviews of the regulation of money market funds and the implementation of incentive alignment recommendations for securitization, which summarize IOSCO’s ongoing efforts in monitoring the implementation of reforms for money market funds and securitization. (11/3/2017) IOSCO press release.
ISDA suggests adjustments to EMIR. The International Swaps and Derivatives Association recommended that the European Commission consider additional modifications to the European Market Infrastructure Regulation in an effort to reduce costs and burdens on derivatives users. (11/3/2017) ISDA white paper.
ISDA plans analysis and global roadmap on benchmarks transition. ISDA will conduct a comprehensive analysis of the issues related to transitioning financial market contracts and practices away from interbank rates to new alternative risk-free rates, which will include a roadmap of any identified solutions for potential adjustments needed for the transition. (11/2/2017) ISDA press release.
FSB examines impact of artificial intelligence and machine learning on financial stability. The Financial Stability Board published a report that considers the financial stability implications of the growing use of artificial intelligence and machine learning in financial services. (11/1/2017) FSB press release.
Swiss module added to ISDA Resolution Stay Jurisdictional Modular Protocol. ISDA released a Swiss module to the ISDA Resolution Stay Jurisdictional Modular Protocol in an effort to assist market participants in complying with Swiss regulations that require contractual stays to be included into certain financial contracts not governed by Swiss law. (10/31/2017) ISDA press release.
OTC Derivatives Compliance Calendar. ISDA updated its OTC Derivatives Compliance Calendar. (10/31/2017) OTC Derivatives Compliance Calendar.
Basel Committee publishes final guidelines on step-in risk identification and management. The Basel Committee on Banking Supervision published final guidelines on the identification and management of step-in risk, which aim to mitigate the risk that potential distress experienced by shadow banking entities will undermine financial institutions. The guidelines establish a supervisory process that will require banks to assess and report their step-in risk based on a wide range of indicators and a self-defined but transparent materiality policy. (10/25/2017) BIS press release.