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Banks Win 9-Month Swap Margin Rules Delay From Basel Group 

March 20, 2015

Jim Brunsden, Bloomberg Business

Banks won a delay in the introduction of minimum global rules on the collateral needed to back trades in the $691 trillion market for swaps and other over-the-counter derivatives.

International regulators said the date for beginning to phase in the measures would be September 2016 compared with previous plans for a December 2015 start. The rules were approved in 2013 to ensure lenders have sufficient safeguards in place when a trading partner defaults.

“The full phase-in schedule has been adjusted to reflect this nine-month delay,” the Basel Committee on Banking Supervision and the International Organization of Securities Commissions, said in a joint statement. Regulators “will continue to monitor progress in implementation to ensure consistent implementation across products, jurisdictions and market participants.”

Read More: Bloomberg Business 

 
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