Banks are being warned by the US Commodity Futures Trading Commission and banking regulators that final margin standards for uncleared derivatives are due to take effect in September 2020, Commissioner Rostin Behnam said.
“We see the tip of the iceberg on the horizon and are doing our best to alert others,” he told bankers at a recent Tokyo conference.
US regulators also are seeking feedback from industry on the status of their preparations “to ensure that we avoid catastrophe,” said Behnam, a Democrat.
CFTC alerting banks of impending 'big bang' of uncleared swaps margin rules
9 November 2018 7:33am