FSB issues final report on FX benchmarks. The Financial Stability Board published the final version of its report on foreign exchange rate benchmarks. The report sets out a number of recommendations for reform in the FX markets and in the benchmark rates. (9/30/2014) FSB press release.
FSB consults on resolution actions. The Financial Stability Board launched a consultation on cross-border recognition of resolution actions. Comments should be submitted by December 1, 2014. (9/29/2014) FSB press release.
Feasibility study of derivatives data aggregation. The Financial Stability Board published a feasibility study on the aggregation of OTC derivatives trade repository data. (9/19/2014) FSB press release.
Jurisdictional deference. The Financial Stability Board published a report on the ability of jurisdictions to defer to each other’s OTC derivatives market regulatory regimes. (918/2014) FSB press release.
IOSCO consults on risk mitigation standards. The International Organization of Securities Commissions published the consultation report, “Risk Mitigation Standards for Non-centrally Cleared OTC Derivatives,” which proposes nine standards aimed at mitigating the risks in the non-centrally cleared OTC derivatives markets. The proposed risk mitigation standards are intended to promote legal certainty and facilitate timely dispute resolution; facilitate the management of counterparty credit and other risks; and increase overall financial stability. Comments should be submitted by October 17, 2014. (9/17/2014) IOSCO press release.