The Basel Committee on Bank Supervision and IOSCO deferred the final implementation phases of initial margin requirements for uncleared derivatives.
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The Federal Reserve Board, FDIC, OCC, SEC and CFTC stated that they will consider comments submitted past the deadline on a proposal to amend the Volcker Rule's "covered funds" provisions.
Industry associations urged the Basel Committee on Bank Supervision and IOSCO to publicly recommend an extension of the implementation deadlines for the Phase 5 and Phase 6 initial margin requirements for uncleared derivatives.