Date

19 Feb 2019

Attendees

1) EBRDF IRS Project Status

2) Order of Activity

3)Coordination with stakeholders

- - Jeff Braswell (to Everyone): 11:54 AM: There is a fundamental challenge is using a static snapshot of a balance sheet (in whatever form or model that represents it) and satisfying regulatory reporting requirements. Most regulatory (micro- or macro-prudential) analysis / reporting must forecast what may happen to contracts in the future -- i.e., cash flows under different scenarios.
  - Jeff Braswell (to Everyone): 11:55 AM: Regulators have typically used product classifications and short-medium-long range temporal bins to try to get these assessments from financial institutions based on their balance sheets
  - Jeff Braswell (to Everyone): 11:56 AM: Classification and definition of financial contracts will not solve the regulatory reporting requirements without the means to forecast

3. Coordination with Regulators
1. March 21 with CFTC
2. Request from Bank of England for demonstration of EBRDF/FIBO approach (to be scheduled)