Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

EU to Postpone Capital Rules on EU Banks

Aarti Maharaj | April 22, 2015

The European Union is once again expected to delay mandating new capital rules on EU banks, which trade derivatives through non-EU Clearing House, said an exclusive Reuters news report.

According to sources, on Friday the EU will vote to postpone the decision until December—a move that will give European and U.S. regulators sufficient time to settle concerns.

If the new regulation is passed, this will make it the third consecutive six-month grace period that exempts European banks from withholding more capital when exchanging derivatives at unapproved foreign exchanges, such as the United States. The current extension, which ends in June can lead to serious repercussions in the global derivatives market if the grace period’s deadline is not extended, warns...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.