CFTC hears ‘call to action’ from swaps end-users on Basel III
Commissioner Pham mulls engaging with prudential regulators over capital hit on clearing
Swaps end-users have issued a “call to action” about the threat posed to derivatives clearing by new prudential rules, a top US markets regulator has told an advisory committee.
Speaking at a meeting of the Commodity Futures Trading Commission Global Market Advisory Committee (GMAC) on March 6, CFTC commissioner Caroline Pham told participants: “What I’m hearing from our electricity producers, from our merchants that support our growers, is that there is a call to action for the CFTC.”
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