EU To Consider Credit Derivatives Clearing Rule

Law360, New York (January 29, 2009, 12:00 AM EST) -- As part of its plans to reform banking capital requirements by April, the European Parliament's Economic and Monetary Affairs Committee reportedly will discuss Monday a new measure mandating that off-exchange traded credit derivatives be centrally cleared.

The committee's French Socialist chair, Pervenche Beres, will propose the measure being negotiated with the bill's sponsor, European Union Financial Services Commissioner Charlie McCreevy, to the committee as part of the ongoing efforts by Parliament and the EU states to reform banking capital rules in the wake of the financial...
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