Isda chairman: US banks could be hamstrung by Dodd-Frank
The extraterritorial application of US prudential regulators' margin proposals for uncleared swaps could put US firms at a significant competitive disadvantage to their foreign counterparts, Stephen O'Connor, the newly elected chairman of the International Swaps and Derivatives Association, warned a US House Committee on Agriculture hearing on global derivatives reform in Washington, DC today.
"By subjecting the non-US activities of non-US swap dealers of American banks to the margin
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