Australian financial regulators have suggested exempting foreign exchange swaps and forwards from any impending central counterparty clearing obligations, Risk.net reports. The Council of Financial Regulators are seeking to match rules with the U.S. and Europe. The regulators have also recommended clearing exemptions for Australian corporates and smaller market participants across all derivatives.
They are also mulling the idea of reporting to trade repositories. The council includes members from RBA, Australian Prudential Regulatory Authority, Australian Securities and Investments Commission and Australian Treasury.
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