European Union (EU) and U.S. regulators are nearing a deal on oversight of the US$553 trillion global derivatives markets that would prevent an increase in EU capital requirements from hitting banks this year.
Jonathan Hill, the EU's financial-services chief, said that an agreement is expected shortly and that progress has been made in negotiations with the U.S. Commodity Futures Trading Commission (CFTC) on supervision of clearinghouses such as those operated by CME Group Inc. and LCH.Clearnet Group Ltd. that are at the center of the market.
"I think the parameters of how we can resolve this look clearer than they were," Hill said in an interview in his Brussels office last week. "I think that both we and the CFTC hope that we will be able to resolve this soon," he said.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
