The Traderszone Network

Published in TZ Latest News 7 October, 2014 by The TZ Newswire Staff

Banks to change rules governing derivatives market: FT

Eighteen banks, ranging from Credit Suisse Group AG (CSGN.VX) to Goldman Sachs Group Inc (GS.N), have agreed to give up the right to “close out” deals on derivatives contracts if a financial institution runs into trouble, the newspaper said, citing people familiar with the matter. The International Swaps and Derivatives Association (ISDA), the body leading the negotiations with regulators on behalf of the industry, said last month that a contractual solution for a temporary stay on derivatives “close outs” was progressing well.

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