Market Risk and Capital Standards

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Correspondence

GFMA Response to FSB Consultation on Evaluation of TBTF Reforms

June 2019  |  Correspondence  |  Regulatory Correspondence

GFMA submitted a response letter to the FSB in regarding its consultation on evaluation of too-big-to-fail (TBTF) reforms for banks. The response outlined key achievements in addressing TBTF, the areas that warrant further analysis and the other questions that should be asked in order to complete the evaluation.

GFMA, ISDA and IIF Letter to BCBS on Revised CVA Framework

May 2019  |  Correspondence  |  Regulatory Correspondence

GFMA, ISDA and the IIF sent a joint letter to the Basel Committee outlining concerns on the impact of the revised Credit Valuation Adjustment (CVA) Framework. The letter notes that industry QIS indicated that the framework will result in substantial increases in capital requirements.

GFMA, IIF and ISDA Submit Response to BCBS on Leverage Ratio Treatment of Client Cleared Derivatives

January 2019  |  Correspondence  |  Regulatory Correspondence

GFMA, the International Swaps and Derivatives Association (ISDA) the Institute of International Finance (IIF) submitted a join response to the Basel Committee on Banking Supervision’s consultation on the leverage ratio treatment of client cleared derivatives. The industry believes that in the context of a bank exposure created by a client cleared derivative transaction, the leverage ratio framework should recognize the exposure-reducing effect of initial margin, particularly as it is not used to increase the bank’s leverage.

GFMA, IIF and ISDA Submit Comments on Basel III: Treatment of extraordinary monetary policy operations in the Net Stable Funding Ratio

February 2018  |  Correspondence  |  Press Releases

GFMA, the Institute of International Finance (IIF), and the International Swaps and Derivatives Association (ISDA) provides comments to the Basel Committee on the Basel Committee on Banking Supervision’s (BCBS) proposal on changes to the treatment of extraordinary monetary policy operations in the Net Stable Funding Ratio (NSFR).

Joint Response Submitted on the BCBS Consultative Document - Identification and management of step-in risk

May 2017  |  Correspondence  |  Press Releases

GFMA, along with the Institute of International Finance (IIF), the International Banking Federation (IBFed), the CRE Finance Council (CREFC) and the Commercial Real Estate Finance Council Europe (CREFC Europe) provide this joint response letter on the Basel Committee on Banking Supervision (BCBS) Consultative Document "Identification and management of step-in risk".

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News

GFMA Statement on Basel Committee Agreement

7 December 2017   |   News  |  Capital Markets Efficiency and Resiliency

HONG KONG, LONDON and WASHINGTON, DC, 7 December 2017 – Following the publication today of the Basel Committee on Banking Supervision's (BCBS) final package of Basel III proposals, Mark Austen, CEO of the Global Financial Markets Association (GFMA), said

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

28 November 2016   |   News  |  Capital Markets Efficiency and Resiliency

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

GFMA, IIF and ISDA Statement on the Fundamental Review of the Trading Book (FRTB) Framework issued today by the Basel Committee on Banking Supervision

7 July 2016   |   News  |  Capital Markets Efficiency and Resiliency

Press Release                                                                                       14 1 2016 GFMA, IIF and ISDA Statement on the Fundamental Review of the Trading Book (FRTB) Framework issued today by the Basel Committee on Banking Supervision

PwC Report Reviews State of Global Financial Market Liquidity

12 August 2015   |   News  |  Capital Markets Efficiency and Resiliency

Release Date 12 August 2015 Contacts Krishna Rao, PwC +44 207 804 3765, krishna.chilmakurthi.rao@uk.pwc.com Katrina Cavalli, GFMA +1 (212) 313 1181, kcavalli@gfma.org Rebecca Hansford, AFME +44 (0)20 743 9367, rebeccca.hansford@afme.eu  Vijay Chander, ASIFMA +852 2531 6521,

GFMA Statement on the Net Stable Funding Ratio Final Rule

31 October 2014   |   News  |  Capital Markets Efficiency and Resiliency

Release Date: October 31, 2014 Contact: Carol Danko, 202.962.7390, cdanko@sifma.org      GFMA statement on the Net Stable Funding Ratio Final Rule                 Washington, DC, October 31, 2014- GFMA today issued the following statement from Kenneth E. Bentsen, Jr., GFMA CEO and SIFMA president and CEO on the final rule for the Net Stable Funding Ratio ("NSFR") issued by the Basel Committee on Banking Supervision: "GFMA appreciates the Basel Committee's work on the Net Stable Funding Ratio.  We support the goals underlying the NSFR, including limiting over reliance on short-term wholesale funding, encouraging better assessment of funding risks across all on- and off balance sheet items, and promoting funding stability.  If the NSFR is not calibrated properly, the rule could impact liquidity in a way that would reduce the ability to manage risk, increase volatility, and reduce returns for investors. We look forward to reviewing today's final rule in greater detail and understanding its impact on GFMA's member firms and the global economy‎."   The announcement was made by the Basel Committee on Banking Supervision today.    -30-   The Global Financial Markets Association (GFMA) brings together three of the world's leading financial trade associations to address the increasingly important global regulatory agenda and to promote coordinated advocacy efforts. The Association for Financial Markets in Europe (AFME) in London and Brussels, the Asia Securities Industry & Financial Markets Association (ASIFMA) in Hong Kong and the Securities Industry and Financial Markets Association (SIFMA) in New York and Washington are, respectively, the European, Asian, and North American members of GFMA. - See more at www.gfma.org.       

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