Hedge funds and asset managers will win partial relief from Dodd-Frank Act collateral requirements for credit-default swaps under a policy shift to be announced this week, according to two people briefed on the matter.

The U.S. Securities and Exchange Commission is revising a policy released in March that required some clients to put up double the collateral dealers post at Atlanta-based IntercontinentalExchange Inc., according to the people, who requested anonymity because the decision isn't public. The relief applies to portfolio accounts that hold credit swaps tied to single securities as well as indexes.

ICE, owner of the world's largest clearinghouse for credit swaps; Citadel LLC; and other firms have spent more than a year pushing regulators to support the portfolio-margining system for client trades. The SEC may require banks temporarily to collect from clients collateral equivalent to what's required under clearinghouse rules plus the level required by their own models, according to an e-mail note that the Managed Funds Association sent to members on May 31. The relief would last six months, the note said.