December 14, 2017

FSB, BCBS, CPMI, and IOSCO have agreed to evaluate the effects of the interaction of the post-crisis regulatory reforms on incentives to centrally clear over-the-counter (OTC) derivatives. Over 2017–18, a joint BCBS-CPMI-FSB-IOSCO Derivatives Assessment Team (DAT) is reviewing the incentives for central clearing, arising from the interaction of a number of reforms. To support their work, the DAT and BCBS have prepared qualitative surveys to be completed by different participants in central clearing—that is, central counterparties, clearing members (as both OTC derivatives dealers and providers of client clearing services), and indirect clearers/end users. The deadline for survey responses is January 26, 2018.

The surveys cover areas such as the effects of G20 reforms on derivatives markets, client clearing service provision, and other market structure issues and observations. Survey responses should be provided on a group-wide basis. Respondents are encouraged to complete the survey (that is, clearing member—as derivatives dealer and client clearing service provider (CCSP), CCP, or end user) that best fits their main role in derivatives markets. However, where a respondent considers itself to be active in more than one role and wishes to respond to more than one survey, it may do so, but still providing responses on a group-wide basis in each case. Responses to the surveys, along with other input analyses, will be used to evaluate the effects of reforms on incentives to centrally clear. Survey responses may also be used by CPMI and IOSCO Policy Standing Group regarding its potential future work on client. The DAT study is being conducted under the FSB framework for post-implementation evaluation of effects of the G20 financial regulatory reforms. The study began in July 2017 and the final report is expected to be completed in late 2018.

 

Related Link: Press Release and Survey Documents

Keywords: International, Banking, Central Clearing, OTC Derivatives, Regulatory Reforms, FSB/BCBS/CPMI/IOSCO

Related Articles
News

EC Amends Regulation Supplementing Solvency II Directive

EC published the Delegated Regulation (EU) 2019/981 that amends the Regulation (EU) 2015/35, which supplements Solvency II Directive (2009/138/EC) on the taking-up and pursuit of the business of insurance and reinsurance.

June 18, 2019 WebPage Regulatory News
News

IOSCO Report Examines Application of International Cyber Standards

IOSCO published a final report that examines the application of the three internationally recognized cyber standards and frameworks by IOSCO member jurisdictions.

June 18, 2019 WebPage Regulatory News
News

PRA Launches 2019 Stress Test Exercise for Life and General Insurers

PRA has launched the biennial insurance stress test and is asking the largest regulated life and general insurers to provide information about the impact of a range of stress tests on their business.

June 18, 2019 WebPage Regulatory News
News

PRA Finalizes Reporting Amendments to Pillar 2 Liquidity Framework

PRA published the final Policy Statement PS13/19 on regulatory reporting amendments and clarifications to the Pillar 2 liquidity framework for banks in UK.

June 17, 2019 WebPage Regulatory News
News

FSB Assesses Implementation of Compensation Standards and Principles

FSB published the sixth progress report on the implementation of its principles and standards for sound compensation practices in financial institutions.

June 17, 2019 WebPage Regulatory News
News

IMF Publishes Reports on 2019 Article IV Consultation with Ireland

IMF published its staff report and selected issues report under the 2019 Article IV consultation with Ireland.

June 17, 2019 WebPage Regulatory News
News

EBA Updates Data on Deposit Guarantee Schemes in EU

EBA published the 2018 data on two key concepts in the Deposit Guarantee Schemes Directive (DGSD)—namely, available financial means and covered deposits.

June 17, 2019 WebPage Regulatory News
News

SNB Updates Form for Reporting Solvency Risk of Counterparties

SNB published the survey (Form Release 5.01) and related documentation for reporting solvency risk of counterparties in the interbank sector (ARIS).

June 17, 2019 WebPage Regulatory News
News

ISDA Studies Variation in Global Implementation of Margin Requirements

ISDA published a paper that highlights the main areas of difference in the implementation of margin requirements for non-cleared derivatives across jurisdictions and makes recommendations on how to resolve these variations.

June 17, 2019 WebPage Regulatory News
News

US Agencies Finalize Rule to Streamline Reporting for Small Banks

US Agencies (FDIC, FED, and OCC) adopted a final rule to streamline the regulatory reporting requirements for small institutions.

June 17, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3265