Senate approves margin carve out for non-financials
Bill confirming margin exemption now needs President Obama's approval
Non-financial derivatives users in the US are a step closer to being shielded from margin requirements for non-cleared swaps after the Senate overwhelmingly passed a bill confirming their exempt status yesterday.
The upper chamber voted 93 to four in favour of reauthorising the Terrorism Insurance Act (Tria), a 69-page bill that includes an amendment to section 731 of the Dodd-Frank Act. This amendment clarifies that any entity meeting the law's end-user exemption will not have to abide by
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