Bank trade body has called on international regulators to put off margin rules
The international banking industry has called for a two-year
delay to upcoming margin rules for uncleared derivatives,
arguing they will not meet the December 2015 implementation
The International Swaps and Derivatives Association (Isda),
which represents the OTC derivatives market, said in a letter
to the Basel Committee on Banking Supervision (BCBS) and the
International Organization of Securities Commissions (IOSCO),
that participants will not be ready to apply the rules because
they are yet to be finalised.
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