The International Swaps and Derivatives Association welcomed the findings of a credit risk transfer report by the Joint Forum's Working Group on Risk Assessment and Capital. Louise Marshall, spokeswoman at ISDA in New York, said, "The findings indicate that there are no undue 'hidden concentrations' of credit risk and that intermediaries' books are balanced overall. The report offers reassurance that the mechanisms and structures within the credit risk transfer markets are broadly performing the role required of them."
The Joint Forum consists of the Basel Committee on Banking Supervision, the International Organization of Securities Commissions and the International Association of Insurance Supervisors.
