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ISDA and Markit Publish US Bank Representation Letter on ISDA Amend

On 24 September 2013, ISDA and Markit issued a press release announcing the launch of the ISDA “Cross-Border Swaps Representation Letter for US Banks” (the “Representation Letter”) on ISDA Amend.  The Representation Letter is designed to assist market participants comply with the provisions of the “Interpretive Guidance and Policy Statement Regarding Compliance with Certain Swap Regulations” published by the CFTC on 26 July 2013 (see this blog for more details).

ISDA Amend is a joint service provided by Markit and ISDA that facilitates compliance with certain Dodd-Frank regulatory requirements.  The substantive representations on ISDA Amend are identical to ISDA’s letter and is a free service for the buy-side.

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