Commodity Futures Trading Commission (CFTC) chairman Timothy
Massad has again called on global regulators to soften the
leverage ratio, amid continued calls for a more widespread
re-appraisal of rulemaking.
Speaking at a conference on September 29, Massad added to
the debate around leverage ratios’ effect on
banks’ clearinghouses that could potentially drive
them out of an already threatened sector.
Massad’s comments come at a time when both
industry bodies and, more surprisingly, regulators are calling
for post-crisis reforms and their potential for intended
consequences, to be re-assessed.
"As we come to the end of the rule writing process,
it’s time to look at the interaction of various
rules," said Carter McDowell, managing director and associate
general counsel at Securities Industry and Financial Markets
The US securities industry trade group believes the core
issue is ensuring that new rules work well, both individually
and together. "We should...