Relief for dealers as Basel reins in capital for cleared trades

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Clearing over-the-counter derivatives trades looks likely to be less painful than dealers had feared, after the Basel Committee on Banking Supervision finalised controversial rules on capital requirements for exposures to central counterparties (CCPs).

The new rules, published on July 25, address a number of long-running concerns, dealers say. There is a simpler way to work out how much capital members of a CCP need to hold against their contributions to its default fund, as well as

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