The U.K.’s National Association of Pension funds and other European trade groups are seeking to amend a new European Union derivatives proposal, Financial Times reports. The pension funds are lobbying to revise the European Market Infrastructure Regulation (EMIR). The regulation demands them to post collateral with counterparty clearing houses when they use derivatives to hedge interest-rate movements or life- expectancy risks. The European Parliament’s Economic and Monetary Affairs Committee is due to vote on the proposals next month.
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