Banks fear loss of Emir intragroup exemptions
Firms would have to clear or margin transactions with affiliates in non-equivalent jurisdictions
European bankers are urging regulators to clarify whether they will maintain beyond 2018 the intragroup exemptions from clearing and margin requirements for operations based in third countries that are not deemed equivalent under European Union legislation.
As expiry dates for the derogations loom, banks will face extra collateral costs unless the three European supervisory agencies (ESAs) decide to extend these exemptions, with the European Securities and Markets Authority (Esma) seen as the
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