The GFMA is actively engaged on Basel Committee’s capital and liquidity framework and the Financial Stability Board’s priorities.

Our mission as GFMA is to promote themes of:

  • coordination, calibration and coherence of global standards,
  • economic growth via efficient cross-border investments,
  • integrity, stability, efficiency and resiliency of capital markets,
  • mitigating risks of market fragmentation,
  • address risks of regulatory arbitrage and support economic drivers for efficient and open capital markets, as well as;
  • global emerging market developments.
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Latest Global Market Policies

Policy Resources

GFMA IBOR Transition Documents – June 2020 Update

June 2020  |  Policy Resource  |  Benchmarks Reform and Transition to Risk-Free Rates

To aid in the awareness of the IBOR transition processes impacting globally-active financial institutions, the Global Financial Markets Association (GFMA) has created the following documents outlining the various parts and players. This version of the documents has been updated from its previous September 2019 version to provide the latest information regarding rates for major currencies including the Australian dollar, Canadian dollar, Euro, Hong Kong dollar, Japanese yen, Singapore dollar, Swiss franc, UK pound sterling and U.S. dollar.

SIFMA webpage tracks key US updates and resources regarding BCP and COVID-19

March 2020  |  Policy Resource  |  COVID-19

SIFMA’s Business Continuity Planning team continues to closely monitor the novel coronavirus (COVID-19) and its impact on our industry and the markets. The SIFMA BCP and COVID-19 page provides guidance and resources for the industry to maintain operational resiliency, including instructions for financial services sector essential critical infrastructure workers.

GFMA One-Pager on LEI Requirements in the SFTR

October 2019  |  Policy Resource  |  Market Transparency Requirement

The Securities Financing Transaction Regulation (SFTR) entered into force on 11 April 2019, with a phased-in compliance period. Compliance with the regulation requires that reporting firms provide their own LEIs as well as the LEIs of their counterparties. This document explains the requirement and the firms impacted.

GFMA/ISDA FAQs on Obtaining an LEI

October 2019  |  Policy Resource  |  Legal Entity Identifier (LEI)

This document provides answers to commonly asked questions regarding the LEI. Several regulators around the world require or are anticipated to require LEIs for transaction reporting and for other uses where clear identification of market participants is needed. Obtaining an LEI is a straightforward and efficient process.

GFMA March 2019 LEI Webinar FAQs

May 2019  |  Policy Resource  |  Legal Entity Identifier (LEI)

These FAQs have been prepared based on a GFMA LEI Webinar at which members of ESMA participated. The answers have not been reviewed or confirmed by representatives of ESMA and are not official legal or regulatory guidance. Firms should rely on independent legal and regulatory sources to plan their LEI programs, including compliance with the requirements of MiFID II and EMIR.

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Correspondence

GFMA as part of a joint industry letter provides comments regarding proposed rules extending the Phase 5 and 6 compliance dates for regulatory initial margin.

August 2020  |  Correspondence  | 

GFMA as part of a joint industry letter provides comments to the Office of the Comptroller of the Currency, Federal Housing Finance Agency, Federal Reserve, Farm Credit Administration and Federal Deposit Insurance Corporation regarding proposed rules extending the Phase 5 and 6 compliance dates for regulatory initial margin.

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News

GFMA Releases Sustainable Finance Survey Report

27 June 2019   |   News  |  Economic Growth

Washington, DC, 27 June 2019 – The Global Financial Markets Association (GFMA) today published its Sustainable Finance Survey Report which demonstrates how global financial institutions are addressing environmental, social and governance considerations, including the management of physical and transitional climate risks, for themselves and their clients.

GFMA Publishes IBOR Transition Documents

8 April 2019   |   News  |  Benchmarks Reform and Transition to Risk-Free Rates

To aid in the socialization of the development of overnight, nearly risk-free rates (RFRs), and the transition processes from Interbank Offered Rates (IBORs) impacting globally-active financial institutions, the Global Financial Markets Association (GFMA) today released the following documents outlining the various parts and players.

GFMA and PwC Identify Global Technology and Innovation Trends and Challenges for Investment Banks

20 March 2019   |   News  |  Capital Markets Innovation

Washington, D.C., 20 March 2019 -  The Global Financial Markets Association (GFMA) and PwC have today published a new report on current trends in technology and innovation and their impact on the investment bank of the future. The report, entitled ‘Technology and Innovation in Global Capital Markets,’ examines the key trends which are expected to impact the industry over the next five years, providing a vision for the future and identifying the implications for the industry and for future policy making.

New Financial Releases Global Capital Markets Growth Index

10 January 2019   |   News  |  Economic Growth

Washington, D.C., 10 January 2019 – New Financial, commissioned by the Global Financial Markets Association (GFMA), has today published a new major industry report, “The New Financial Global Capital Markets Growth Index.” The purpose of the report is to provide an in-depth review and comparison of national and regional capital markets across the globe in terms of market size, depth, and access to pools of capital.

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