OTC derivatives regulation: ECB believes that exemptions for non-financial firms should be conservative
24 August 2010
The ECB recognises the hedging needs of corporate end-users, but it points out that any loopholes that may undermine the effective implementation of a general clearing obligation should be avoided.
The following main points were presented in its position paper:
· The ECB recognises the hedging needs of corporate end-users, however it considers that any loopholes that may undermine the effective implementation of a general clearing obligation should be avoided.
· In general, any exemptions that may be envisaged for non-financial firms should be conservative.
· The definition of threshold should be developed in cooperation with the European System of Central Banks.
© ECB - European Central Bank
