G14 dealer group adds two members
Nomura joined the group at the end of August, while Crédit Agricole is expected to join in the first quarter next year - in part a response to regulator criticisms that the group had become too exclusive
The G14, an industry group comprising the largest derivatives dealers, has been expanded to include Nomura and will welcome Crédit Agricole in the first quarter of next year. In joining the group, which will be renamed the G16, both banks will be expected to comply with the 'Fed letter commitments', through which the group works with regulators to improve the functioning of over-the-counter derivatives markets.
That process began in 2006 after the Federal Reserve Bank of New York demanded
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