December 2, 2019

CFTC’s Market Risk Advisory Committee to Meet December 11

Washington, DC — The U.S. Commodity Futures Trading Commission’s Market Risk Advisory Committee (MRAC) will hold a public meeting on December 11, 2019 at CFTC's Washington, DC headquarters. CFTC Commissioner Rostin Behnam is the sponsor of the MRAC.

At this meeting, the MRAC will receive status reports from its committees: Climate-related Market Risk; CCP Risk and Governance; Market Structure; and Interest Rate Benchmark Reform. The meeting will also include a discussion about the transition from the London Inter-bank Offered Rate (LIBOR) to alternative risk-free reference rates (RFRs), including the International Swaps and Derivatives Association’s (ISDA) recent consultation on the final parameters for the spread and term adjustments that will apply to RFRs if derivatives fallbacks are triggered.

“On December 11th, the new MRAC Subcommittees, Climate-related Market Risk, CCP Risk and Governance, and Market Structure, will build on the discussions held at previous MRAC meetings and present updates on their focus areas. I appreciate the Subcommittees’ hard work in identifying topics where consensus can be found, and actionable recommendations can be made that will benefit the derivatives industry, financial markets, and its participants. Many thanks to the Interest Rate Benchmark Reform Subcommittee for its continued effort to raise and discuss timely issues with respect to benchmark reform,” said Commissioner Behnam.   

A formal agenda for this meeting is forthcoming.

The meeting is open to the public with seating on a first-come, first-served basis. Members of the public may also listen to the meeting via conference call using a domestic toll-free telephone or international toll or toll-free number to connect to a live, listen-only audio feed. Persons requiring special accommodations to attend the meeting because of a disability should notify Alicia Lewis at (202) 418–5862.

Viewing/Listening Instructions: Watch the live webcast at www.cftc.gov.  To listen to the live audio feed, call the toll or toll-free numbers below. Call-in participants should be prepared to provide their first name, last name and affiliation.

Conference call information:

Members of the public who wish to submit written statements in connection with the meeting should submit them by December 18, 2019. Written statements should be identified by “Market Risk Advisory Committee,” and submitted by mail or hand delivery to: Christopher Kirkpatrick, Secretary of the Commission, Commodity Futures Trading Commission, Three Lafayette Center, 1155 21st Street NW, Washington, DC 20581, or via the CFTC’s website: https://comments.cftc.gov.  Follow the instructions for submitting comments through the Comments Online process on the website.  Any statements submitted in connection with the committee meeting will be made available to the public, including publication on www.cftc.gov.

-CFTC-