Isda's Pickel addresses friction between rules and commitments
Speaking in a video interview, Isda executive vice-chairman Robert Pickel said regulators are aware that inconsistencies could emerge between legislative requirements and Fed letter commitments
Supervisors are sensitive to the friction that could emerge between voluntary commitments made by dealers and the wave of new rules currently being drawn up in the US and Europe, according to Bob Pickel, executive vice-chairman of the International Swaps and Derivatives Association. The problem was highlighted by the industry's decision in March to launch a new selection process for an interest rate repository, after the existing one, operated by TriOptima in line with voluntary standards, was
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