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ISDA Recommends Global Regulators Adopt Standard Approach To Financial Reporting – Finance and Banking – United States – Mondaq News Alerts

United States: ISDA Recommends Global Regulators Adopt Standard Approach To Financial Reporting

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ISDA recommended that global regulators adopt the Common Risk Interchange Format
(“CRIF”) and Common Domain Model (“CDM”) to
allow for the standardization and automation of financial
reporting. CRIF is a uniform template for holding and reporting
risk data.

In a white paper, ISDA argued that, as central clearing, margin,
trade reporting and revised capital requirements increase, so does
the need for greater consistency in reporting.

ISDA stated that the adoption by regulators of the CRIF
standards and the CDM would be advantageous because they:

  • use existing criteria with which market participants are
    familiar;
  • create a robust and thorough framework for representing risk
    data that can be directly applied to standardized capital models
    and the ISDA Standard Initial Margin Model; and
  • allow a granular analysis of the factors driving capital and
    margin calculations and allow analysis of their relative
    significance to asset-class and risk-factor levels.

Primary Sources

  1. ISDA Press Release: The Future of Risk, Capital
    and Margin Reporting
  2. ISDA White Paper: The Future of Risk, Capital and
    Margin Reporting

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