ISDA Sends VM ‘Big Bang’ Letter To Regulators

Date 07/02/2017

The International Swaps and Derivatives Association (“ISDA”), the Global Financial Markets Association, including its Global FX Division (“GFMA”), The Investment Association (“IA”), Financial Services Roundtable (“FSR”), The ABA Securities Association (“ABASA”), and The American Council of Life Insurers (“ACLI”) (together, the “Associations”) are writing on behalf of their members to request regulatory forbearance in respect of the March 1, 2017 compliance date for the exchange of variation margin (“VM”) under the regulations (the “VM regulations”), and/or pursuant to the oversight, of the authorities to which this letter has been addressed.