Swaps users in Japan have criticised the proposed methods for calculating a fallback rate for legacy Libor trades, responses to a consultation paper issued by the International Swaps and Derivatives Association reveal.
In an open letter to Isda dated October 23, the Japanese Bankers Association, which represents national and regional banks across Japan, declined to rank the fallback calculation methods offered in the consultation, as requested by Isda.
“The JBA’s member banks have discussed
- Bank risk manager of the year: UBS
- Asia moves: BlackRock picks new Asia head, Credit Suisse boosts regional solutions, and more
- We need a different approach to supervisory stress-testing
- People moves: Asia hires at Credit Suisse, new UBS data role, NatWest takes UBS's Duclos, and more
- Risk solutions house of the year: HSBC