BofE's Farrant Says Basle Committee Won't Accept ISDA Netting Proposal
REGULATIONS
Swap dealers were hoping that Richard Farrant, deputy head of banking supervision at the Bank of England and chairman of the off-balance sheet subcommittee of the Bank for International Settlements' (BIS) Basle Committee on Banking Regulation and Supervisory Practices, would toss them a bouquet on the occasion of his speech at their annual meeting in Paris earlier this month. Instead, he unleashed a barrage of criticism that sent International Swap Dealers Association (ISDA) spin doctors
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