Reuters: Regulatory News: Regulators ease derivatives rule to avoid harming economy

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Regulators ease derivatives rule to avoid harming economy Sep 2nd 2013, 09:04 By Huw Jones LONDON, Sept 2 | Mon Sep 2, 2013 5:04am EDT LONDON, Sept 2 (Reuters) - Global regulators have eased the impact of a new rule designed to make the $630 trillion derivatives market safer as they seek to avoid a collateral crunch that could harm economic recovery. The Basel Committee of regulators and central bankers from around the world on Monday published their final rule for requiring banks and brokerages to post an initial margin on swaps that don't pass through a clearing house. Clearing is backed by a default fund in case one side of a trade goes bust, and the aim of an initial margin - where cash or top quality government bonds are used to back a trade - is to provide a similar safety cushion.

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