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US regulators seek more comment on swap margin rules
September 26, 2012 / 7:00 PM / in 5 years

US regulators seek more comment on swap margin rules

WASHINGTON, Sept 26 (Reuters) - U.S. banking and housing-finance regulators signaled on Wednesday they need extra time to review proposed rules requiring swap dealers to hold more capital and collateral when trading in riskier over-the-counter derivatives.

Regulators including the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation said they are reopening the public comment period to allow the industry a chance to have its say on an international paper on reforms released in July.

The proposed rules are a key pillar of the 2010 Dodd-Frank Wall Street reform law designed to bring more transparency to the nearly $650 trillion over-the-counter derivatives market.

They would require swap dealers such as Goldman Sachs and Morgan Stanley to put up collateral and hold more capital against swaps that have not been sent through clearinghouses, which guarantee trades.

The rules were first proposed in the spring of 2011.

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