Delay US non-cleared margin rules, industry tells Congress
“This puts the US banks at a huge disadvantage relative to the European banks,” says CME’s Duffy
Market participants are calling on US regulators to postpone new margin requirements for non-cleared derivatives after the European Commission (EC) delayed the implementation date of its rules until mid-2017.
At a hearing before the House Committee on Agriculture earlier today (June 14), banks, clearing houses and buy-side firms warned that sticking to the September 1 deadline for large US banks
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