Isda chair on twin threats facing OTC market

Capital a “sword of Damocles”, says Litvack; cleaner CSAs will fix valuation woes

Eric Litvack: Prudential reforms risk endangering capital markets

A sword, suspended over a throne by a single horse's hair: as legend has it, this is how the Greek tyrant Dionysius showed a courtier that life as a ruler was haunted by fragility and fear. Derivatives dealers know the feeling, says Eric Litvack, chairman of the International Swaps and Derivatives Association.

"Prudential reforms are a sword of Damocles hanging over the derivatives market and the capital markets in general," he says.

It's a doomy way to go into the association's thirty-first

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