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- Title
Collateral Damage or Marginal Benefit? The CFTC and Prudential Regulators' Approaches to Margin for Uncleared Swaps.
- Authors
HAMMAR, JULIAN E.; SCHWARTZ, JAMES E.; SORRELL JR., MICHAEL R.
- Abstract
This article reviews the uncleared swaps margin proposed rules of the Prudential Regulators and the Commodity Futures Trading Commission, noting some of the few material differences between them. It also compares and contrasts the Proposals to the international framework for margin requirements on non-centrally cleared derivatives released by the Basel Committee on Banking Supervision and the Board of the International Organization of Securities Commissions and the proposal issued by the European Union, where more significant differences exist, and raises areas of potential concern to participants in the swaps marketplace.
- Subjects
SWAPS (Finance) -- Government policy; UNITED States. Commodity Futures Trading Commission; MARGIN requirements; BASLER Ausschuss fur Bankenaufsicht; INTERNATIONAL Organization of Securities Commissions; EUROPEAN Union
- Publication
Journal of Taxation & Regulation of Financial Institutions, 2015, Vol 28, Issue 4, p29
- ISSN
1547-3996
- Publication type
Article