Submissions
FTA Submission to RBA on Central Clearing of OTC Derivatives in Australia
Thursday 15 September 2011. The Council of Financial Regulators (comprising the Australian Prudential Regulation Authority, the Australian Securities and Investments Commission and the Treasury, and chaired by the Reserve Bank) has issued a discussion paper on Central Clearing of Over-the-counter (OTC) Derivatives in Australia as part of its consideration of Australia's response to the substantial international reform efforts underway in global OTC derivatives markets.
The paper discusses the following:
- Evolving global landscape for OTC derivatives and central clearing
- The Australian market for OTC derivatives
- A range of considerations that need to be weighed if central clearing in the domestic market is to be established.
Please click here to review the final submission to RBA.
The full paper can be viewed here
FTA Submission to IASB ED Hedge Accounting
Wednesday 9 March 2011. The FTA has prepared a submission in response to the new International Accounting Standards Board (IASB) Exposure Draft - Hedge Accounting. Key points to note from the ED that was released by the IASB in December 2010.
- It is a complete overhaul of rules
- Introduces greater flexibility
- It allows amortisation of option premiums
The FTA submission was led by senior FTA Members: Steven Cunico CFTP, Executive Director - Financial Accounting Advisory Services, Ernst & Young; John Kidd FFTP, Partner, Deloitte; and Paul Travers FFTP, Executive Director, Oakvale Capital.
Please click here to review the final submission to IASB.
FTA Submission re ED Leases ED 2010/9/1
14 December 2010. Based on the Finance & Treasury Association’s membership profile, the FTA has a particular interest in Lease accounting and we have consulted widely with our corporate membership base.
The attached document details the FTA’s responses to the specific questions outlined in ED/2010/9.
FTA Letter to IASB re Hedge Accounting
31 July 2010. Further to our recent correspondence with Martin Friedhoff, Technical Principal International Accounting Standards Board (IASB), the Finance and Treasury Association (FTA) would like to take the opportunity to provide feedback from the Australian Corporate Treasury market for the IASB to consider in its review of International Financial Reporting Standard (IFRS) 9 – Hedge Accounting.
We commend the IASB for undertaking this project and recognize your significant efforts to date. Looking forward we trust you are able to consider the key points of concern of the Australian Corporate Treasury market outlined in this letter.
FTA Submission to ASIC Consultation Paper 126: Facilitating Debt Raising
19 February 2010. The Finance and Treasury Association (FTA) welcomes the opportunity to provide a submission to Australian and Securities Investments Commission’s Consultation Paper 126 - Facilitating debt raisings.
The FTA views the ASIC’s review as timely given the changing nature of a large proportion of the retail investor base in Australia from a growth/wealth accumulation phase to a capital preservation, defined income phase. In addition to this, we note the difficulties that Australian corporations encountered in accessing the credit markets during the global financial crisis (GFC).
To view full submission