Financial Regulatory Forum

Banks to submit 95 pct of eligible CDS for clearing

ice   By Karen Brettell
   NEW YORK, Sept 1 (Reuters) – Large derivatives dealers will agree to submit 95 percent of eligible credit derivative trades to central clearinghouses beginning in October, according to a person familiar with a letter they will send the New York Federal Reserve Bank on Tuesday night or on Wednesday.
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Thomson SA to test new Europe CDS settlement rules

thomson-logo   By Natalie Harrison
   LONDON, Aug 13 (Reuters) – A credit event at France’s Thomson SA, the first to feature in a current benchmark European credit default swap index, will test the market’s ability to cope with complex new auction rules to settle CDS.
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White House divides CDS regulatory jurisdiction

seccftc   By Charles Abbott and Rachelle Younglai
   WASHINGTON, Aug 11 (Reuters) – The Obama administration’s plan to regulate the $450 trillion private swaps market would give the two main market regulators a share of the duties by splitting oversight of credit default swaps, which were responsible for exacerbating the financial crisis.
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U.S. finance reform bill may ban ‘naked’ credit default swaps

U.S. Rep. Collin Peterson WASHINGTON, July 21 (Reuters) – An omnibus financial reform bill in the U.S. House of Representatives would require that over-the-counter derivatives go through clearinghouses and probably ban “naked” credit default swaps, the chairman of the House Agriculture Committee said on Tuesday. (more…)

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