ISDA welcomes European Parliament progress on EMIR

25 May 2011

The International Swaps and Derivatives Association, Inc. welcomes the adoption of amendments at committee stage by the Economic and Monetary Committee of the European Parliament on 24 May.

It is clear to ISDA that the rapporteur, Werner Langen, has listened to a wide range of interested parties, and weighed up all views in these amendments, which seek to deliver a cross-party consensus in the European Parliament. Though ISDA maintains some concerns about the amendments adopted, it also notes that Dr Langen has improved the text in several areas.

ISDA will continue to engage with MEPs in the lead up to the vote in plenary, scheduled for July, and thereafter with regard to the European Parliament’s approach, in particular where ISDA has concerns in relation to systemic risk at CCPs, which ISDA underlines must be robust and resilient, given the level of risk concentration apparent.

Press release 

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