Risk Management

ISDA’s Risk Management Team works with members, regulators and policy makers to develop rules which ensure that appropriate, prudent and risk sensitive capital charges are applied uniformly to the various financial risks faced by the industry. The group continually seeks to define best practice in each area and assist all stakeholders in achieving this.

Click here for additional and archived risk management materials.


DateTitle / DescriptionDocuments
September 18, 2017
Safeguarding Clearing: The Need for a Comprehensive CCP Recovery and Resolution Framework
Given the systemic importance of CCPs, it is vital that a strong resilience, recovery and resolution mechanism is in place. This paper makes a number of recommendations for a comprehensive CCP recovery and resolution framework that would ensure CCPs can withstand severe market stress.
Safeguarding clearing FINAL.pdf
July 13, 2017
ISDA/GFMA/IIF publish industry FRTB QIS analysis
ISDA, GFMA and IIF analysed data as of December 2016 submitted by 30 banks as part of the Fundamental Review of the Trading Book (FRTB) quantitative impact study (QIS). The industry analysis shows the new rules will result in market risk capital increasing between 1.6 and 2.5 times compared with current levels, depending on internal model approval for bank trading desks.
QIS 7 FRTB Refresh Report_Spotlight_FINAL.pdf
May 15, 2017
Briefing Note: The Impact of SA-CCR
A recent quantitative impact study completed by ISDA and FIS highlighted the potentially punitive impact of the Basel Committee’s standardised approach for measuring counterparty credit risk exposures. This briefing note outlines the key findings.
ISDA SA-CCR Briefing Paper - Final1.pdf
March 21, 2017
ISDA Letter to the BCBS on the Standardized Approach for Measuring Counterparty Credit Risk Exposures
Following the suggestion by the Basel Committee on Banking Supervision (BCBS) to ISDA to share industry views and inputs on the standardized approach for measuring counterparty credit risk exposures (SA-CCR), ISDA responded in a letter on March 20 highlighting its SA-CCR quantitative impact study findings and setting out suggestions for improved coherence and calibration of the SA-CCR framework.
ISDA Letter to the BCBS on SA-CCR - March 2017.pdf
March 17, 2017
ISDA/FIA/GFMA/IIF response to the FSB Consultative Document: Guidance on Central Counterparty Resolution and Resolution Planning
On March 13, ISDA responded jointly with the Futures Industry Association (FIA), the Global Financial Markets Association (GFMA) and the Institute of International Finance (IIF) on the FSB’s Consultative Document regarding Guidance on Central Counterparty Resolution and Resolution.
FSB Consultative Document - CCP Resolution - Final FIA-GFMA-IIF-ISDA Response.pdf
October 24, 2016
ISDA/FIA/GFMA/IIF/TCH response to the FSB Discussion Note on Essential Aspects of CCP Resolution Planning
On October 21, ISDA responded jointly with the Futures Industry Association (FIA), the Global Financial Markets Association (GFMA), the Institute of International Finance (IIF) and The Clearing House (TCH) on the FSB Discussion Note on Essential Aspects of CCP Resolution Planning.
FIA-GFMA-IIF-ISDA-TCH-Response-to-FSB-Discussion-Note-CCP-Resolution.pdf
October 19, 2016
ISDA/FIA/GFMA/IIF/TCH response to the CPMI-IOSCO consultative report on Resilience and Recovery of Central Counterparties: Further Guidance on the PFMI
On October 18, ISDA responded jointly with the Futures Industry Association (FIA), the Global Financial Markets Association (GFMA), the Institute of International Finance (IIF) and The Clearing House (TCH) on the Resilience and Recovery of Central Counterparties (CCPs): Further Guidance on the PFMI consultative report recently published by CPMI-IOSCO.
FIA-GFMA-IIF-ISDA-TCH Response to CPMI-IOSCO Consultative Report (Resilience and Recovery of CCPs).pdf
September 13, 2016
ISDA response to US Agencies’ NSFR proposal
On August 5, ISDA responded to the US agencies proposed rule that would implement a stable funding requirement, the net stable funding ratio (NSFR), for large and internationally active banking organizations.
ISDA US NPR NSFR Response FINAL [050816].pdf
July 7, 2016
ISDA/GFMA/IIF/JFMC/TCH submit joint response on leverage ratio
On July 6, 2016, ISDA, the Global Financial Markets Association (GFMA), the Institute of International Finance (IIF), Japan Financial Markets Council (JFMC) and The Clearing House (TCH) submitted a joint response to the Basel Committee on Banking Supervision on its consultation on revisions to the Basel III leverage ratio framework.
FINAL Joint trade response BCBS LR2016.pdf
July 7, 2016
ISDA/AFME responds to the EBA consultation on the draft RTS on proxy spread for CVA risk
On July 6, ISDA, along with the Association for Financial Markets in Europe (AFME), responded to the European Banking Authority’s consultation on draft regulatory technical standards for determining proxy spread for credit valuation adjustment under Article 383(7) of Regulation (EU) No 575/2013 (the Capital Requirements Regulation).
EBA-CP-2016-04 on CVA RTS - ISDA-AFME Response Letter - Final.pdf