Asset managers change swap docs fearing capital charges from non-EU CCPs
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Asset managers change swap docs fearing capital charges from non-EU CCPs

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Asset managers are scrambling to amend swap documents so that they clear derivatives with EU clearing houses before the expiry of a December 15 deadline. If the EU decides not to recognise other countries' clearing houses by that date, or doesn't extend the deadline, then firms that clear trades with non-EU clearing houses will face sky-high capital requirements.

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