Core derivatives regulations for the U.S. and European Union should be identical, according to Michel Barnier, the E.U.’s commissioner for internal markets and services. Speaking to the Brookings Institute, Barnier said those core areas would include clearing, collateral and capital requirements and mutual recognition of the two jurisdictions’ central counterparties and trade repositories. A day earlier, he said, however, that the E.U. was not planning a regulation similar to the Volcker rule in the U.S., aimed at curbing bank proprietary trading activity.
