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Market watchdogs push back against central banks

Regulators are against the imposition of bank-style rules - such as capital requirements - on market players

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"We don't regulate markets like we regulate banks. It is like creating a square peg for a round hole." - Greg Medcraft (above), chairman of the global markets regulatory body IOSCO

London

AN uneasy truce between market watchdogs and central banks, struck during the financial crisis, is showing signs of strain as they look for ways to tackle potentially extreme volatility in bond markets when interest rates start to rise.

The watchdogs are worried central