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EU, US reach deal over derivatives rules
Published Wed, Feb 10, 2016 · 09:50 PM
London
THE European Union and the United States have agreed to recognise each other's derivatives clearing rules to avoid punitive capital charges on banks, EU and US regulatory officials said on Wednesday.
Both sides of the Atlantic are introducing reforms after the 2007-09 financial crisis highlighted how the hitherto opaque US$550 trillion sector for interest rate and credit default swaps accentuated uncertainty in rocky markets.
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