Welcome to the ICMA Quarterly Report Fourth Quarter 2021

The International Capital Market Association's Assessment of Market Practice and Regulatory Policy
This Quarterly Report is produced by the Market Practice and Regulatory Policy team at ICMA.

ICMA’s Quarterly Report for the Fourth Quarter of 2021 begins with a Foreword from ICMA’s new Chief Executive, Bryan Pascoe, and from Martin Scheck, now ICMA’s President. The Quarterly Assessment is on the transition from LIBOR: “tough legacy” bonds. There are international capital market features on: the European Commercial Paper market; the CDM for repo and bonds; China’s development in green finance; and the road to formulating local guidelines for social bonds in Japan. The Quarterly Report also covers ICMA’s market practice and regulatory policy work in the primary markets, secondary markets, repo and collateral markets, sustainable finance, asset management, FinTech, the transition from LIBOR to risk- free rates, and capital market developments in China.

We welcome feedback and comment on the issues raised in the report; please e-mail regulatorypolicynews@icmagroup.org or alternatively, the ICMA contact whose e-mail address is given at the end of the relevant article.

PDF version: issue no 63: ICMA Quarterly Report Fourth Quarter 2021



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