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EU Push to End Swaps-Collateral Rule Delay Hits Snag on Pensions

  • Three EU regulators reject European Commission changes on rule
  • Regulators say restrictions on pensions ‘crucial’ to rule

The European Union’s chief financial regulators rejected draft changes to collateral standards for derivatives, further complicating Europe’s efforts to complete the rule after failing to meet a global deadline this month.

The regulators opposed a proposal by the European Commission, the EU’s executive arm, to exempt pensions from some of the requirements. In a statement on Friday, they said the restrictions are “crucial for mitigating potential risks” in the $493 trillion global market.