ISDA/IIF/TCH final response to the CPSS-IOSCO consultative report Recovery of financial market infrastructures

On October 11, the International Swaps and Derivatives Association (“ISDA”), the Institute of International Finance Inc. (“IIF”) and The Clearing House (“TCH”) (together, the “Associations”) submitted their response to the Committee on Payment and Settlement Systems (CPSS) and International Organization of Securities Commissions (IOSCO) (together, “CPSS-IOSCO”) consultative report, Recovery of financial market infrastructures, issued for comment on 12 August 2013.

Also attached is the ISDA CCP Loss Allocation at the End of the Waterfall technical paper (issued in August 2013) which forms part of the Associations’ response to this report.