WASHINGTON: A US banking regulator on Tuesday proposed easing a rule requiring banks to set aside cash to safeguard derivatives trades between affiliates, marking one of the biggest wins for Wall Street lenders under the business-friendly Trump administration.
These rules included requiring banks to secure trades with cash or margin upfront and additional margin to cover price moves. Tuesday's proposal would scrap the requirement for affiliates within the same bank group to post upfront margin when trading derivatives with one another. At the same meeting, the FDIC also proposed delaying rules that would require smaller funds to post margin for derivatives transactions. The proposal brings the FDIC in line with the Basel Committee of global banking regulators, which already agreed to postpone to September 2021 that requirement for the smallest firms.
Source: Financial Digest (financialdigest.net)
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