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.
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The Federal Reserve Board revised the interest rate paid on balances held by Federal Reserve Banks or eligible institutions.
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.
In a supervision and regulation letter to institutions that have large derivatives portfolios and relationships with investment funds, the Federal Reserve Board reiterated previously issued expectations as to large banks' counterparty credit risk management and margin practices.
The U.S. House Committee on Financial Services marked up and passed bills on special purpose acquisition companies, broker-dealer and investment adviser mandatory arbitration clauses in customer agreements, and hiring practices.