US still has no plans to give Asian sovereigns Dodd-Frank exemption, says Hong Kong regulator

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US regulators are showing no signs of relaxing Dodd-Frank Act rules that will force Asian and European central banks and sovereign-sponsored entities to transact derivatives via central counterparties (CCPs) and trade repositories, when conducting business with US banks. By contrast, the US Federal Reserve and US Treasury have already received exemptions from such requirements.

The move has caused uproar in Asia and Europe, but Esmond Lee, executive director in the financial infrastructure depar