In this regard, conclusions of the Bail-in Working Group include that there is a need for clarity and transparency, allowing comparability and predictability of the new regulatory environment in which the banks throughout Europe operate. It also advocates: consistency and clear communication; predictability of the practical application of resolution powers and the various triggers along the capital structure; standardisation and homogeneity, in particular when it comes to a framework for achieving subordination; clarity around valuation methods and fairness as to how losses are attributed. Ultimately, the Group aims to reassure the market and preserve confidence by ensuring that bank capital remains a sustainable and investible proposition, with debt markets available at reasonable prices to provide banks with necessary liquidity. Mindful of these goals, the Bail-in Working Group regularly represents its collective views to central banks, policy makers and regulators with a view to engaging them in constructive and open dialogue.
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Welcome to the International Capital Market Association
For over 50 years ICMA and its members have worked together to promote the development of the international capital and securities markets, pioneering the rules, principles and recommendations which have laid the foundations for their successful operation.
A global community for the capital markets
ICMA has over 600 members located in 66 jurisdictions drawn from both the sell and buy-side of the market.
ICMA engages with its global membership on market practice and regulatory policy issues through its expert forums.
Here are the key sections covering our work programmes, including contact details of ICMA staff responsible for each area.
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Primary Markets
- ICMA Primary Market Handbook - Home
- Primary Market Committees ‣
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Primary Market Topics
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- Accounting and Auditing
- Benchmark Reform and Transition to Risk-Free Rates
- MiFID II/R in Primary Markets
- Primary Markets Conduct (non-MiFID)
- Electronification
- Primary Markets Technology Mapping Directory
- Dialogue with Investors
- Prospectuses
- PRIIPs KIDs
- Retail Access to Bond Markets
- Market Infrastructure and Asset Servicing
- Market Abuse Regulation (MAR) - Primary Market Aspects
- Periodic Reporting / Continuing Obligations
- Taxation (Primary Markets)
- Other ICMA Primary Market Advocacy Materials
- Primary Market Products ‣
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Secondary Markets
- ICMA’s Rules and Recommendations for the Secondary Market ‣
- Secondary Market Practices Committee (SMPC) and related Working Groups ‣
- Central Bank Corporate Bond Purchase Programmes
- Electronic Trading ‣
- Market Transparency ‣
- Market Data ‣
- Market Liquidity ‣
- Secondary Markets Regulation ‣
- Euro Safe Assets
- Archive
ICMA serves as Secretariat to the GBP, the SBP, the SBG and the SLBP, providing support while advising on governance and other issues.
ICMA also leads numerous other initiatives in sustainable finance. ICMA is at the forefront of the financial industry’s contribution to the development of sustainable finance and in the dialogue with the regulatory and policy community.
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ICMA Education has been setting the standard of training excellence in the capital markets for almost five decades with courses covering everything from market fundamentals to latest developments and more.
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