All central clearing articles
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NewsUK pensions groups call for pension fund clearing exemption to be retained
The UK’s HM Treasury consultation on pension funds’ exemption from the clearing obligation closed on 5 January
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NewsBVI favours active account requirements to strengthen EU clearing services
German fund industry association distances itself from EFAMA’s position
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NewsEuropean trade associations slam active account requirement
Further efforts should focus on streamlining the supervisory framework for EU central counterparties across member states
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Opinion PiecesLDI lessons: be wary of future traps
After the global financial crisis of 2008-09, world leaders meeting at the Pittsburgh G20 summit mandated central clearing for derivatives. This was to allow for greater supervisory oversight and to mitigate against the unintended build-up of risks of the kind that almost toppled the financial system in the guise of over-the-counter credit default swaps.
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NewsDutch pension federation opposes EU central clearing obligation
The lobby club for Dutch pension funds is specifically against a proposed minimum percentage of clearing transactions to be conducted inside the EU from mid-June 2023
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Opinion PiecesViewpoint: Clearing made easier and more resilient, but you can’t make an omelette without breaking eggs
CCP clearing is highly concentrated in a few financial centres around the globe, with the City of London playing a very important role
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NewsItaly roundup: Fondenergia swaps Amundi with Credit Suisse to manage ‘garantito’ fund
Plus: Euronext moves clearing activities to Italy
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NewsEC proposes EMIR amendments to make EU clearing more attractive
The Commission aims to build a ‘safe and resilient’ clearing system, by strengthening the EU supervisory framework for CCPs
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NewsDanish FSA says pension fund liquidity risk needs close follow-up
Watchdog concludes there is no immediately significant rise in liquidity risk, in new assessment ahead of next June’s central clearing deadline
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NewsPensionsEurope unsure EU will agree to ECB help in a pensions liquidity crunch
European pensions lobby chief expects more emphasis on liquidity risk management in future pensions regulation
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NewsCommission grants final central clearing exemption for pension funds
Pension schemes will be expected to clear via EU CCPs, says Mairead McGuinness
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NewsAPG moves to central repo clearing
The switch from bilateral transactions follows similar decisions by PGGM and MN
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NewsESMA recommends final one-year clearing exemption for pension funds
PensionsEurope welcomes announcement, calls for European Commission to start rule-making process early
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NewsESMA advises fresh postponement of pension fund central clearing duty
Watchdog says more time needed for implementing mix of solutions to collectively enable schemes to clear derivative contracts
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NewsATP welcomes ESMA reprieve as it shifts derivatives out of London
Wary of hard Brexit risk, Danish pension fund has been moving most derivatives exposure to EU counterparties
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NewsESMA seeks more views, data on central clearing solution work
PensionsEurope sees publication of report as ‘good news’
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NewsPGGM calls for pension funds to be given liquidity access via ECB loans
ECB said to have agreed to discussions about the matter
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NewsEU bodies agree extension of derivatives clearing waiver
Pension funds to be exempt for another two years with possibility of two more one-year extensions
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NewsESMA moves on UK clearing house recognition in case of cliff-edge Brexit
EU watchdog working with Commission and UK clearing houses on temporary recognition
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NewsEU regulator proposes derivatives fix in case Brexit talks fail
ESMA floats temporary solution for transferring uncleared derivatives contracts to EU counterparties
