Basel proposals reduce need to sign guaranteed portability agreements

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Revisions to proposed capital rules on central counterparty (CCP) exposures reduce the need for banks that clear via a clearing member to enter into contractual agreements with another dealer, to accept their cleared trades in the event of a default of the original clearing member.

A previous consultation paper, published by the Basel Committee on Banking Supervision last December, had stipulated that bank clients that clear via a clearing member can only apply preferential risk weights for

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