Fed throws curveball with agency clearing surcharge proposal
Revived plan could see capital for G-Sibs’ client clearing jump 40 times, says industry body
Yogi Berra, the baseball legend with a penchant for mangled aphorisms, could probably sum up the feeling among US clearing banks about the latest proposal to regulate their activities: “It’s déjà vu all over again.”
On July 27, the Federal Reserve announced it wanted to add the complexity and interconnectedness indicators surcharge – which it already imposes on global systemically important
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