The US Treasury called on Congress on May 12 to amend the Commodities Exchange Act (CEA) to compel clearing of all standardised over-the-counter derivatives through regulated central counterparties (CCPs).
In a letter to Senate majority leader Harry Reid, Treasury secretary Timothy Geithner wrote that financial regulators will need to take steps to ensure CCPs impose robust margin requirements, as well as ensure "customised OTC derivatives are not used solely as a means to avoid using a CCP". "I
The week on Risk.net, October 6-12, 2017Receive this by email
- Quantile, TriOptima face off in cleared swaps compression battle
- Leaked EU doc could shield legacy swaps from clearing grab
- ABS set for revival under US Treasury’s liquidity buffer plans
- SGX, HKEX expect to be among first wave of Mifid II equivalence
- Industry hails potential US relaxation of margin timing rules