Japan FSA proposes two phases for mandatory clearing
Insurance companies and pension funds absent from JFSA plans
Japan has proposed two phases of mandatory clearing for yen interest rate swaps with two different thresholds to capture different sizes of financial institution but insurance companies and pension funds have not been included so far.
The Japan Financial Services Agency (JFSA) sent a long-awaited letter to dealers last week regarding its plan for mandatory clearing. The first phase, commencing in December 2014, includes financial institutions – mainly banks and securities firms – with
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