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ESMA proposes reducing collateral requirements for derivatives traders to bring EU in line with U.S. regulations.
Changes aim to avert a repeat of Lehmans messy bankruptcy.
As Basel Committee considers binding global standards, bank associations call the approach impossible, unnecessary, and 'even dangerous.'
$2 trillion debt boom leaves emerging-market companies, and banks, at risk at the first sign of trouble.
Debt worldwide has increased more than 40 percent since 2007, according to Bank for International Settlements.
As investors pile in in search of yield, bonds sensitivity to rate changes jumps.