EC finalises OTC rules, leaves key technical items to Esma
The European Commission today formally published and adopted long-awaited legislation on clearing and reporting obligations for over-the-counter derivatives – bringing further relief to corporate hedgers – but market observers say the most contentious issues remain unresolved.
"It's even more high-level than we expected and by draft legislative standards, it isn't terribly comprehensive. The EC has clearly listened to the feedback that has been given by the industry, but there's an awful lot in
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Derivatives
US Treasury market preps for reporting showdown
Sifma expected to attack transparency plans; prop traders brand objections “crazy”
Some EU countries unable to punish Emir breaches
Firms in Poland and Ireland cannot be fined for breaking reporting rules
OTC derivatives turnover driven by 'non-dealer' contracts, says BIS
Article in latest BIS quarterly review notes share of inter-dealer trades shrunk to 35% in 2013; trading remains concentrated in major financial centres despite 'rapid' growth in EM currencies
BoE's Carney: liquidity support for CCPs is a 'last-resort option'
Bank of England governor insists clearing houses must have enough liquidity to cope with the default of two big member firms
OTC derivatives reform contains ‘real world challenges' says Fed governor
Jerome Powell says worldwide reform efforts will turn OTC derivatives market infrastructure into a ‘pillar of strength in the next crisis' if implementation challenges can be overcome
Cœuré warns of threat of regulatory arbitrage on OTC derivatives
Benoît Cœuré says much progress has been made since Pittsburgh in 2009, but argues there is a risk of business moving to jurisdictions which lag behind in implementing the reform agenda
New CRD IV draft exempts sovereign trades from CVA capital charge
The latest council draft adds a CVA capital charge exemption for sovereign derivatives transactions – potentially removing one of the big unintended consequences of CRD IV, participants say
ECB threatens to stop trading swaps with US counterparties
ECB invokes US legal amendment providing it with broad immunities and says it might stop using US dealers unless granted exemptions from Dodd-Frank Act rules
Most read
- Profit inflation and monetary policy: weighing the evidence
- What is forecasting for? Bernanke and the future of BoE projections
- Central bank of the year: Central Bank of Brazil