As noted by the Basel Committee on Payment and Settlement Systems, market associations such as ISDA are well placed to develop common understandings regarding the use of these methodologies, taking into account existing market practices and laws.
Erkki Liikanen: Global rebalancing, asset prices and policy responses Speech by Mr Erkki Liikanen, Governor of the Bank of Finland, at the Fifth High-Level Seminar of the Eurosystem and Latin American Central Banks, Madrid, 10 December 2010. *  *  *  Due to the strike and weather conditions the speech was distributed in written form.