Regulators still have work to do on assessing the effects of margin requirements for non-centrally cleared derivatives, but an interim consultation will be published soon, says David Wright, secretary general of the International Organization of Securities Commissions. "We haven't sorted out yet the margin requirements for over-the-counter derivatives that are not cleared," Wright said. "You can expect in a few days that IOSCO and the banking regulators will come out with what is described as a near-final consultation, which will open up for further comment three or four issues." Read ISDA's letter to the Basel Committee on Banking Supervision and IOSCO about its proposal on margin requirements for non-centrally cleared derivatives.
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