EU clearinghouses will likely not be required to hold additional capital to cushion a failure, MLex has learned, despite calls from the world’s biggest banks and asset managers that they should take a higher share of losses.
The U-turn is contained in a compromise proposal from EU member states on Brussels' recovery and resolution provisions in draft regulation for clearinghouses. The Council of the EU is finalizing its proposals for the new law, which represents the negotiating stance it will take into discussions with the European Parliament.
EU clearinghouses get 'skin in the game' reprieve in compromise proposal
25 November 2019 4:57pm