The International Swaps and Derivatives Association (ISDA), the Institute of International Finance (IIF), the London Investment Banking Association (LIBA), The Bond Market Association (TBMA) and the International Banking Federation (IBFed) have submitted a detailed commentary on the three strands of the consultative document issued jointly by the Basel Committee on Banking Supervision and the International Organisation of Securities Commissions (IOSCO) on the application of Basel II to trading activities and the treatment of double default effects. The response was also endorsed by the Futures and Options Association (FOA).
The Associations are meeting with a group of banking and securities regulators on June 2 in New York to discuss the consultative document.
See full Press Release.
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