You are here

Global regulators mull swaps rules reprieve

Monday, January 19, 2015 - 21:29

[HONG KONG] Derivatives watchdogs expect to agree a new timeline for the introduction of new capital 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 that international regulators hope to reach an agreement on 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 all the work necessary to implement the post-crisis rules that may to add US$800 billion to the global financial industry's cost of doing business.

REUTERS

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom