In a joint statement, the FRB and the OCC said they will not recommend enforcement action against swap dealers that are parties to certain legacy swaps in connection with the UK's departure from the EU.
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The Basel Committee on Bank Supervision and IOSCO deferred the final implementation phases of initial margin requirements for uncleared derivatives.
Industry associations urged the Basel Committee on Bank Supervision and IOSCO to publicly recommend an extension of the implementation deadlines for the Phase 5 and Phase 6 initial margin requirements for uncleared derivatives.
ISDA offered additional guidance on documentation for the OTC derivatives market in the event of a "no deal" Brexit.
ISDA CEO Scott O'Malia highlighted potential issues affecting derivatives trading obligations following Brexit in the absence of an equivalence determination.