Latest news

Here are a selection of news items. These news items will be regularly updated to provide the latest information relevant to the work of ICMSA in the international capital market.

Page 2 of 8

ICMSA guide to the correct selection of the form of note for international debt securities when obtaining XS ISIN codes

The objective of this bulletin is to raise further awareness to market participants about the importance of selecting the correct form of note in the pre-issuance stage within the ICSDs.

2016 Calendar of meeting dates

A calendar for 2016 with ICMSA meeting dates and events.

ICMSA Bulletin with respect to the Issuance of Euro Commercial Paper (ECP) or Euro Certificates of Deposit (ECD) with Embedded Options

The ICSDs (Euroclear Bank SA/NV and Clearstream Banking Luxembourg) have noticed an increase in the number of ECP and ECD issuances in the international capital market that contain embedded options.

ICMSA Bulletin - Global Tax Procedures – Tax Relief Procedure for Spain

There is a change on page two of the bulletin (the note under section 3. has been amended) to update BULLETIN – 140117/26 - Global Tax Procedures – Tax Relief Procedure for Spain

ICMSA Bulletin – with respect to publication of consensus interpretation of the status of corporate trustees to structured finance transactions governed by English law under the "Trustee" definition in the Volcker Rule

In response to members' concerns about whether certain powers of a corporate trustee in a typical English law structured finance transaction comply with the Volcker Rule, at the request of the ICMSA, a number of international law firms released a statement setting out their consensus as to the interpretation of those provisions.

Page 2 of 8