On May 13, BPI signed on to a joint trade letter addressed to the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Comptroller of the Currency, the Farm Credit Administration, and the Federal Housing Finance Agency. The letter requested that the agencies modify their margin rules for non-cleared swaps and security-based swaps to make them consistent with international standards. A copy of the letter can be accessed by clicking on the download link below.
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