EU regulators split over using initial margin to resolve CCPs
Rules on CCP resolution were due last month but are now slated for February
European regulators are divided over whether initial or variation margin should be haircut as a last-ditch measure to save a stricken central counterparty (CCP) – a choice that places the burden of bailing out a CCP on different users of the venue.
The debate is said by two sources with knowledge of the discussions to have held up long-awaited European Commission rules on recovery and resolution for clearing houses, which were originally expected to be published last month.
"The commission wants
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