Banks should be granted relief from global margin standards for uncleared derivatives that are due to take effect next year, a prominent Wall Street group said.
The Securities Industry and Financial Markets Association renewed a request for fewer firms to be subject to initial margin (IM) requirements in the fifth and final phase of implementing the 2013 principles.
Sifma’s request, to the Basel Committee on Banking Supervision and the International Organization of Securities Commissions, followed the global authorities’ guidance on complying with the standard.
Derivatives-trading banks call for easing of 2020 uncleared margin standards
13 March 2019 9:26am