European firms first cut their exposure to US dealers when Sefs were introduced
European swaps dealers are continuing to
avoid trading with US counterparts more than two years after
the US Dodd-Frank rules of late 2013 saw European firms pull
back from their US counterparts, according to a report.
The International Swaps and Derivatives
Association said in a report the incidence of European firms
dealing with US banks fell at the end of last year to near
their lowest levels since the Dodd-Frank swaps reforms took
effect in October 2013.
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