O'Malia concerned over US equivalence, recognition under EMIR

By Beth Shah
06 May 2014

Market disruption and dislocation could occur should third country central counterparties not receive recognition under the European Market Infrastructure Directive, according to Scott O'Malia, Commissioner at the US Commodity Futures Trading Commission.

Under EMIR, after June 15, third country CCPs that do not receive recognition will not qualify as qualifying CCPs for purposes of the Basel III risk-weighting approach for banking institutions. The deadline will result in higher capital standards on all third country CCPs that are not recognised under ...

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