Basel Committee and Iosco reopen FX exemption debate
The Basel Committee on Banking Supervision and the International Organization of Securities Commissions (Iosco) have reopened the contentious debate over the exemption of FX swaps and forwards from mandatory counterparty risk mitigation measures, giving the industry until March 15 to make its case.
In a second consultative document published late on February 15, the Working Group on Margining Requirements (WGMR), a joint working group of the Basel Committee and Iosco, presented the ‘near-final'
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