Japan slams European rules on bilateral swaps

Japanese firms will to look to use non-European counterparts

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Stricter European rules governing margining of bilateral swaps will cause liquidity challenges and operational burdens that may ultimately force Japanese firms to eschew trades with European counterparts. While central clearing of derivatives has received the bulk of attention over the past few years, focus is now turning to the rules governing uncleared derivatives with the new margin regime due to come into force in December 2015. In April a trio of European regulators including the Europea