Central Banking

Barnier hints at longer pensions clearing exemption for OTC derivatives

Michel Barnier
Michel Barnier, European Commission

The European Commission's (EC) outgoing head of the internal market and services division, Michel Barnier, has hinted that the EC will extend the temporary exemption pension funds have from mandatory clearing of their over-the-counter derivatives trades beyond 2015.

Pension funds may have to clear their OTC derivatives as early as August 2015, but in an interview with Central Banking's sister publication Risk, Barnier says he does not believe the clearing system is ready for pension funds to cle

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