US swaps end-users cry foul over SA-CCR punch

Capital on non-margined trades jumps 90%, and energy firms face double hit

When regulators propose new prudential standards, they expect anxious noises from the banking sector. But this time, US federal agencies have managed to unnerve cattle ranchers, corn growers and municipal gas suppliers instead. And this reaction concerns a new framework for measuring counterparty credit risk that is supposed to be a more risk-sensitive improvement on the previous version.

The cause of the fuss is the US implementation of the Basel Committee on Banking Supervision’s Standardised

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