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24 August 2010

OTC derivatives regulation: ECB believes that exemptions for non-financial firms should be conservative


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Die EZB erkennt die Hedging-Bedürfnisse von Unternehmen an, warnt jedoch dass Schlupflöcher jeglicher Art die eine effektive Umsetzung einer generellen Pflicht zum Clearing untergraben könnten, vermieden werden sollten.


 
The following main points were presented in its position paper:
 
·         The ECB recognises the hedging needs of corporate end-users, however it considers that any loopholes that may undermine the effective implementation of a general clearing obligation should be avoided.
·         In general, any exemptions that may be envisaged for non-financial firms should be conservative.
·         The definition of threshold should be developed in cooperation with the European System of Central Banks.
 
 


© ECB - European Central Bank


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