Senate approves margin carve-out for non-financials
Overwhelming 93-4 vote clarifies corporate treasury units are not bound by rules requiring margin to be posted on non-cleared swaps
Non-financial derivatives users in the US are a step closer to being shielded from margin requirements for non-cleared swaps after the Senate overwhelmingly passed a bill confirming their exempt status yesterday.
The upper chamber voted 93 to 4 to reauthorise the Terrorism Insurance Act (Tria), a 69-page bill that included an amendment to section 731 of the Dodd-Frank Act. The amendment clarifies any entity meeting the law's end-user exemption would not have to abide by capital and collateral
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