Commission formally extended deadline from June 15 to December 15
The European Commission
officially extended on Thursday the deadline for granting
equivalence to US clearing houses to December 15 2015 from June
15, removing the immediate prospect of higher capital charges
for EU market participants using US clearing
Under the Capital
Requirements Regulation (CRR), European firms face much higher
capital charges on trades cleared through central
counterparties operating in regions not recognized as having an
equivalent regulatory regime to the European Markets
Infrastructure Regulation (Emir).
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