CFTC Commissioner Summer K. Mersinger asserted that the Basel III Endgame Proposal, if adopted, would have a significant negative impact on derivatives markets.
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Federal Reserve Board Vice Chair Philip N. Jefferson outlined current policy questions on central clearing in the Treasury market.
ISDA CEO Scott O’Malia reported that ISDA continues to work with global policymakers to improve margining practices that can mitigate the impact of "extreme" volatility.
In its 2022 Annual Report, the Financial Stability Oversight Council offered recommendations touching on (i) digital assets, (ii) climate-related financial risks, (iii) investment fund disclosure, (iv) Treasury markets, (v) cybersecurity and (vi) LIBOR transitions.
Treasury announced that, after the necessary consultation with the FDIC and the SEC, it is providing a retail broker-dealer with a conditional exemption from certain Dodd-Frank recordkeeping requirements for certain of its qualified financial contracts.