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GFMA, IIF, ISDA, JFMC and TCH respond to the Basel Consultation on Leverage Ratio

London – 7 July 2016: The Global Financial Markets Association (GFMA), the Institute of International Finance (IIF), the International Swaps and Derivatives Association (ISDA), the Japan Financial Markets Council (JFMC) and The Clearing House (TCH), yesterday responded to the Basel Committee's (BCBS) consultation on Revisions to the Basel III leverage ratio framework (Proposed Framework).

The full response is available here: http://gfma.org/correspondence/item.aspx?id=825

GFMA, ISDA, IACPM and JFMC respond to the Basel Consultation on Internal Risk Models

London – 22 June 2016: The Global Financial Markets Association (GFMA), along with the International Swaps and Derivatives Association, Inc. (ISDA), the International Association of Credit Portfolio Managers (IACPM) and the Japan Financial Markets Council (JFMC), today responded to the Basel Committee’s consultation on Reducing variation in credit risk-weighted assets – constraints on the use of internal model approaches. The full response is available here

Letter to IOSCO and BCBS setting out how current margin settlement requirements will negatively disadvantage Japan and Asian markets because of time zone differences

The Japan Financial Markets Council (JFMC) and the International Swaps and Derivatives Association (ISDA) sent a letter to IOSCO and BCBS pointing out how the current margin settlement requirements for uncleared swaps will disadvantage Japan and Asian markets because they are in a different time zone. The T+1 requirement will place an additional burden on market participants in the Asia-Pacific region including their access to types of collateral which may result in higher overall funding costs.