US energy firms cheer regulators’ shift on margin rule

New proposal exempts non-financial end-users from margin requirement

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Federal Reserve headquarters in Washington, DC

Energy companies breathed a sigh of relief this week after US bank regulators scrapped a three-year-old proposal that would have required non-financial end-users to post margin on bilateral swap transactions not cleared through a central clearing house. On September 3, the five agencies collectively known as the 'prudential regulators' – the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Farm Credit Administration and

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