The IIF is the leading voice for the financial services industry on global regulatory issues. We engage continuously and constructively with global standard setters and policymakers through formal submissions and reports, as well as through regular dialogue and high-level symposia.

We help shape the global policy and regulatory agenda by providing industry input and feedback. We focus on issues such as international capital and liquidity standards for banks and insurers, resolution and recovery policy issues, derivatives market rules, international conduct standards, shadow banking, supervision and risk management, and accounting standards, among many others.

Members participate in working groups and committees with industry peers and interact with public sector representatives, facilitated by the IIF.

Publication
February 6, 2015

Please see attached for a brief summary of the key items on the BCBS's Agenda for 2015, and their approximate timing throughout the year. Through our various working groups, we are either currently working on these, or anticipate mobilizing new efforts in the near term.

In part, the attached reflects the high level work plan for the next two years that the BCBS announced in January, collated together with what we have learned from other recent statements and presentations, including some indicative timings within the year. While this summary is very BCBS-specific, it makes passing reference to other FSB and IOSCO initiatives, where these have some interplay.

LATEST PUBLICATIONS

Publication
May 29, 2015

On May 29, the IIF SAG submitted its response letter to the Exposure Draft issued by the IASB to defer the effective date of IFRS 15 and to the Exposure Draft issued by the FASB to defer the effective date of Revenues from Contract with Customers.

Publication
May 8, 2015

This month’s IIF Global Regulatory Update provides updates on current work streams in regulatory capital, liquidity, accounting, disclosure, insurance, systemically important financial institutions, derivatives, coherence and calibration as well as upcoming events.

Publication
May 7, 2015

The IIF RWA Task Force submitted on May 5, 2015 its response letter to the EBA Discussion Paper “The future of the IRB approach”.

Publication
May 5, 2015

The joint associations (IIF, ISDA, GFMA) sent a letter to the Governors and Heads of Supervision (GHOS) and the Basel Committee on Banking Supervision (BCBS) requesting that the timeline for finalizing the fundamental review of the trading book (FRTB) be reconsidered in order to assess changes to key components of the FRTB since the third consultation document. The additional time will allow adequate assessment of impact on products and markets to ensure that this is aligned with the overall public policy goals.

Publication
April 30, 2015

On April 30, the IIF Senior Accounting Group (SAG) submitted its response letter on the Guidance on Accounting for Expected Credit Losses (“ECL”) (the “Guidance”) consultative document issued by the Basel Committee. While the SAG shares the Committee’s expectation that banks will achieve high quality implementation of the new accounting requirements, the Guidance as currently drafted raises a number of concerns on which detailed comments and drafting suggestions are provided.

Publication
April 17, 2015

On April 17, the IIF Senior Accounting Group (SAG) submitted its response letter on the IASB’s proposal to amend IAS 7. The proposal aims to address investors’ need to better understand an entity’s period-on-period movements in debt and of any liquidity restrictions that affect an entity’s ability to deploy its resources. While the IIF SAG agrees that these issues are also critical for the banking industry, the current proposal raises a number of concerns that are developed in the attached letter.

Publication
April 15, 2015

Ahead of the IMF/World Bank Spring Meetings, IIF President and CEO Tim Adams addressed the challenges for the global economy and financial markets as the impact of regulatory change continues to unfold. In a letter to Chairmen of the International Monetary and Financial committee (IMFC) and the Development Committee (DC), Adams noted three challenges in particular; the deterioration in secondary bond market liquidity in recent years; potential systemic risks associated with a sustained low-rate environment; and facilitating private-sector support for investment, job creation and economic growth more broadly.

Publication
April 9, 2015

This month’s IIF Global Regulatory Update provides updates on current work streams in regulatory capital, liquidity, accounting, anti-money laundering, insurance, systemically important financial institutions, derivatives, coherence and calibration as well as upcoming events.

Publication
April 6, 2015

The IIF has prepared a brief summary of the key items on the FSB's Agenda for 2015. This reflects the published outcomes from the Brisbane G20 Summit last November and the FSB’s Plenary meeting in Frankfurt on March 26, collated together with what have learned from other recent dialogues and presentations.

Through our various working groups, the IIF is either currently working on these, or anticipate mobilizing new efforts in the near term.

While this summary is FSB-specific, it makes passing reference to other BCBS, IAIS and IOSCO initiatives, where these have some interplay. The IIF also previously prepared a similar summary of the Basel Committee’s agenda for 2015, which can be found at: https://www.iif.com/publication/basel-agenda-2015

Publication
March 27, 2015

The IIF, GFMA, the International Swaps and Derivatives Association (ISDA), and The Commercial Real Estate Finance Council (CREFC) provide comment to the Basel Committee on Banking Supervision (BCBS) on their December 2014 Consultative Document, “Capital Floors: the design of a framework based on standardized approaches”

The Associations support the work of the Committee and specifically of the Task Force for Simplicity and Comparability (TFSC) aimed at conducting a comprehensive review of the capital framework and its overall calibration and taking stock of the multiple changes thereto in the course of the past 5 years. The Associations are equally supportive of the Committee’s goal to remove undue complexity and improve the comparability of banks’ capital requirements. The Joint Associations welcome the opportunity to contribute to the discussion on capital floors.

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