EU regulator renews attack on US CCP margin rules
Esma’s Verena Ross warns that the US one-day margin requirement for house accounts can put CCPs and non-defaulting members at risk
A senior European regulator has criticised the US one-day margin regime for central clearing, claiming it puts the safety of clearing houses and non-defaulting members at risk.
Verena Ross, executive director of the European Securities and Markets Authority (Esma), said the Lehman Brothers default in 2008 showed the US regime, which requires clearing members to post one-day gross margin for listed
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