ICMA Quarterly Report First Quarter 2021

07 January 2021

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

ICMA’s Quarterly Report for the First Quarter of 2021 begins with a review of 2020 and outlook for 2021 by ICMA’s Chief Executive, Martin Scheck. The Quarterly Assessment covers the global transition from LIBOR to risk-free rates, and also the post-Brexit agreement and international capital markets. There are features on: the European commercial paper market reimagined; the new Capital Markets Union Action Plan; the AIFMD review and initial lessons from the COVID-19 crisis; climate transition finance; FinTech and sustainable bond markets; digital bonds and the fixed income cycle; and humanitarian funding and the role of capital markets. 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, and the transition to risk-free rates.

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.

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