Bloomberg: EU delays non-cleared derivatives rules to mid-2017

The European Union will push back the completion of collateral rules for the multi-trillion-dollar swap market to the end of the year, breaking with U.S. authorities who have set a September deadline for the biggest banks to comply.
The European Commission, the EU’s executive arm, won’t be able to meet the deadline adopted by the U.S. — and laid out as a goal by global regulators — for standards that seek to ensure banks have sufficient collateral to backstop transactions done directly with other traders, according to Vanessa Mock, a spokeswoman for the Brussels-based commission. The September deadline applies to trades conducted by the largest banks.
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