Banking & Finance

MSRB Advances Rule Modernization, Transparency, and Strategic Plan

The Municipal Securities Rulemaking Board (MSRB) held its quarterly board meeting, discussing advancements in rule modernization, market transparency initiatives, and its forthcoming FY 2026-2030 strategic plan. Key topics included retrospective rule reviews, harmonization with FINRA rules, and updates on the EMMA website.

MSRB Rules for Municipal Securities Activities Updated

The Municipal Securities Rulemaking Board (MSRB) has updated its rules pertaining to municipal securities activities. The updates cover various aspects of regulated entity administration and professional qualification for dealers, municipal advisors, and bank dealers.

ISDA Recommendations to Simplify EU Regulation

The International Swaps and Derivatives Association (ISDA) has submitted a paper to the European Commission with eight recommendations to simplify EU derivatives regulation. The proposals aim to reduce operational complexity and compliance costs while maintaining high regulatory standards and enhancing the EU's attractiveness for derivatives activity.

ISDA: Safe, Efficient Markets for SFTs

The International Swaps and Derivatives Association (ISDA) has published a paper outlining structural and regulatory drivers impacting Securities Financing Transactions (SFTs). The paper identifies advocacy priorities to support resilient SFT markets and addresses differences in frameworks for SFTs and derivatives.

UK BMR Reform Consultation Response

ISDA, GFXD, UK Finance, and LMA have jointly responded to HM Treasury's consultation on reforming the UK Benchmark Regulation (BMR). The response supports replacing the current UK BMR with a new regime that would regulate only benchmarks posing systemic risks.

FAQ: New Selection Process for Standard Reference Obligations (SROs)

The International Swaps and Derivatives Association (ISDA) has published a new FAQ document detailing a revised selection process for Standard Reference Obligations (SROs). This FAQ provides guidance on the updated procedures for selecting SROs within the derivatives market.

ISDA and EMTA Publish 2026 FX Definitions for Derivatives

ISDA and EMTA have published the 2026 FX Definitions, consolidating previous documentation and updating market practices for FX derivatives. The new definitions aim to enhance market safety and efficiency, with an implementation target of November 2027.

Basel Committee Consolidates Banking Guidelines and Sound Practices

The Basel Committee on Banking Supervision has launched a new website section consolidating its banking guidelines and sound practices. This initiative aims to improve accessibility for banks and supervisors. A consultative document is open for feedback until June 26, 2026.

Non-Maturity Deposit Stability and Depositor Outflows Literature Review

The Bank for International Settlements (BIS) published a working paper reviewing literature on non-maturity deposit stability and depositor outflows. The paper examines whether recent banking turmoil indicates changes in deposit behavior due to technological, competitive, or regulatory shifts, concluding that while changes may have affected stability, traditional factors remain significant drivers.

Basel Committee Analysis of Synthetic Risk Transfers

The Basel Committee on Banking Supervision has published a report analyzing Synthetic Risk Transfer (SRT) transactions, which allow banks to transfer credit risk to counterparties. The report notes the rapid growth of SRT markets, with protected assets averaging 1.1% of total bank assets globally.