Regulators divided over collateral exemption for FX
Divisions have emerged between senior regulators over whether foreign exchange swaps and forwards should be exempt from new international standards on margin requirements for non-centrally cleared derivatives, which have already missed an end-of-2012 deadline to be finalised and now face further delays.
The debate over an exemption is playing out within the Working Group on Margining Requirements (WGMR), a joint working group of the Basel Committee on Banking Supervision (BCBS) and the
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