Brussels hands EU pension funds OTC reprieve

Article reported that Europe’s pension funds had cause to celebrate in June 2011. The European Parliament’s Economic and Monetary Affairs Committee voted to to grant a temporary reprieve and not require their over-the-counter derivatives trades to be cleared via central clearing houses for at least the next four years.

This decision must receive formal approval from the wider European Parliament, the Council of Ministers and the European Commission. Advisers expected more details of the reprieve to be filled in 2012.

ESO: Background information: Pension funds fight EU plan on derivatives http://www.europeansources.info/record/pension-funds-fight-eu-plan-on-derivatives/

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