VARIATION MARGIN guidance causes chaos
SLR reducing stability in US repo markets
EU INSURANCE DEAL divides US
COMMENTARY: A bad start for VM rules
March 1, the first day of trading under the new variation margin (VM) regime, did not go well. The “slow-motion train crash” anticipated by the financial industry for months finally arrived, and last-minute efforts by regulators around the world to stave it off did not succeed in preventing a chaotic day of trading.
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