House committee calls on Fed to change leverage ratio
Segregated initial margin should be allowed to reduce exposure in cleared trades, says House Agriculture Committee in letter to Fed chair, Janet Yellen
The US House Committee on Agriculture has called on the Federal Reserve to reduce the capital requirements futures commission merchants (FCMs) face when clearing derivatives trades on behalf of customers, arguing the costs could dissuade companies from hedging and undermine the post-crisis push to clear more derivatives.
In a letter co-signed by Republican committee chairman Mike Conaway and its
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