Industry eyes carving SPVs out of clearing

European member states could keep securitization and covered bond SPVs out of clearing and margin requirements, according to a draft European Market Infrastructure Regulation (EMIR) compromise published last week.

  • By Jean Comte
  • 23 Nov 2017

Securitization SPVs and covered bond issuers do not have to abide by these obligations under today's rules. But the Commission proposed last May to add them to the list of “financial counterparties” that are obliged to follow such requirements.

The move was part of a set of ...

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