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09 June 2016

ブルームバーグ:欧州委員会、イニシャル・マージン規制の適用を延期、米国との適用時期の相違が焦点に


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The European Union will push back the completion of collateral rules for the multi-trillion-dollar swap market to the end of the year, breaking with U.S. authorities who have set a September deadline for the biggest banks to comply.


The European Commission won’t be able to meet the deadline adopted by the U.S. -- and laid out as a goal by global regulators -- for standards that seek to ensure banks have sufficient collateral to backstop transactions done directly with other traders, according to Vanessa Mock, a spokeswoman for the Brussels-based commission. The September deadline applies to trades conducted by the largest banks. “The small number of firms covered by the first wave of the requirements will in many cases also be covered by rules in other jurisdictions and therefore should continue to prepare for implementation,” Mock said in an e-mailed reply to questions. “Our objective is to deliver the standard before the end of the year, and for firms covered by the first wave of the rules to be required to comply before the middle of next year.” Mock said the commission supports the standards laid out by global regulators “and intends to bring them into force as soon as possible.” The commission, which received final draft technical standards from three EU regulators in March, said it is still reviewing the rules.

The EU regulators proposed that the requirements enter into force on Sept. 1 this year, and that “market participants that have an aggregate month-end average notional amount of non-centrally cleared derivatives exceeding 3 trillion euros will be subject to the requirements from the outset.”

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© Bloomberg


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