Garry Gensler, Chairman of the CFTC said yesterday that margin requirements for cleared swaps, would apply to transactions by ‘financial entities’ rather than those that involve ‘nonfinancial companies’.
Gary is clearly a caring man, with his heart in the right place, as he reassured markets that ‘beer’ would not be subject to margin calls!
“We’re aware and focused on the cost of a six pack because we also oversee agricultural markets,” Gensler said. “I would say our intention is not to have margin requirements applied to an end user such as MillerCoors,” he said.
Filed under: Dodd Frank | Tagged: CFTC, Dodd Frank, Swaps |
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