The Central Bank's Head of Markets Policy, Martin Moloney has delivered a speech at the 5th Annual Collateral Forum where he identified the positive potential of the emerging regulatory framework on the collateralised lending sector, including the mandatory clearing of interest rate swaps under EMIR. Two Regulatory Technical Standards relating to EMIR are currently being considered by the EU Commission - the first concerning non-G4 currency IRSs, such as Swedish Krona, Norwegian Krone and Polish Zloty and a second relating to margin requirements for non-centrally cleared derivatives. During his speech, Mr Moloney illustrated his view that the new regulatory landscape will grow business models and is conducive to agency models like collective investment schemes and MiFID-regulated firms.
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