The Basel Committee agreed to advance several ongoing policy and supervisory initiatives concerning, among other things, FinTech developments and excluding initial margin from the leverage ratio.
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ISDA identified key differences among jurisdictional implementations of margin requirements for non-cleared derivatives that have led to market fragmentation.
Trade associations urged U.S. regulators to provide guidance on implementing BCBS-IOSCO recommended exemptions from swaps margin requirements where the amounts to be transferred are below relevant thresholds.
ISDA CEO Scott O'Malia encouraged regulators and policymakers to reduce certain "burdensome" requirements that will be enacted on the forthcoming implementation of initial margin "Phase Five."
The Federal Reserve Board proposed expanding the number of financial institutions that fall under the "netting" provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991.