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Derivatives watchdogs expected to agree swaps rules reprieve 

January 19, 2015

Michelle Price, Reuters 

Derivatives watchdogs are expected to agree a new timeline for the introduction of margin requirements for swaps transactions after strong resistance from the international banking industry, Europe's top securities regulator said.

Speaking on the sidelines of the Asia Financial Forum in Hong Kong on Monday, Steven Maijoor, chair of the European Securities and Markets Authority, told Reuters the European regulator hopes to agree a new timeline for introducing margin requirements for privately-traded derivatives in the coming weeks.

An extension to the agreed December 2015 deadline would mark a reprieve for global banks, which have said there is not enough time to do the operational and legal work necessary to implement the post-crisis rules that may add $800 billion to the global financial industry's cost of doing business.

Read More: Reuters 

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