Participants discussed the cross-border margin proposal, including the effect the rule would have on the company if finalized as proposed in terms of holding capital and competitiveness.

Participants discussed the cross-border margin proposal, including potential consequences of finalizing the rule as proposed and the need for harmonization of margin proposals across jurisdictions.

Commenters argue against an exemption from margin requirements for issuers of asset backed securities. Commenters believe ABS issuers' current practice for dealing with counterparty credit risk is inadequate by construction and presents a systemic risk. See attached presentation.


 


Conference call was joint with staff of Prudential Regulators.

Meeting participants discussed the proposed rule on position limits, including how the approval of non-enumerated hedges could work and what recordkeeping should be required from market participants regarding non-enumerated hedges.

Morgan Stanley wanted to highlight the challenge of using a 10-day margin calculation while proscribing the scaling up from a 1-day calculation. They presented the view that this was unnecessary and possibly counter-productive.

Participants discussed 80FR10022--position limits.

Participants discussed the Commission's Proposed Interpretation on Embedded Volumetric Optionality

Participants discussed 80FR10022--position limits.

Participants discussed 80FR10022--position limits.

Participants discussed 79FR59898--uncleared margin.