Regulators review margin rates for CDS
New rules on margining practices could have far-reaching effects on the credit default swap market, argues Fitch Ratings.
Credit default swaps, and over-the-counter derivatives more generally, have been a focal point of regulatory initiatives worldwide in the past couple of years, as policymakers attempt to enhance systemic stability while preserving the economic benefits of the instruments.
A central element of these initiatives is reviewing margin requirements and clearing of CDS contracts through central counterparty clearing houses (CCPs).
Aside from calibrating margin rates, policymakers must grapple with the
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