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Hedge funds and asset managers won relief from Dodd-Frank Act collateral requirements for credit-default swaps under a policy shift disclosed June 7 in letters posted on the U.S. Securities and Exchange Commission’s (SEC’s) website.

The letters to banks, including JPMorgan Chase & Co. and Goldman Sachs Group Inc., revised a measure released in March that called for some clients to put up double the collateral that dealers post for portfolio margin accounts at Atlanta-based IntercontinentalExchange Inc. (ICE). The banks instead will be able collect collateral from clients according to clearinghouse rules for six months.

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