According to Timothy Massad, chairman of the Commodity Futures Trading Commission (CFTC), "I would expect us to finalize a rule by the summer, and I expect that we will incorporate a slight delay in the implementation timetable for the rule."

Margin threshold required in the CFTC proposal is currently lower than in those for Europe and Japan, and rules should be harmonized even if it means increasing our threshold, Massad said in comments to the Coalition for Derivatives End-Users in Washington, D.C.

The CFTC is working to implement end-user margin protections quickly through an interim final rule, "in light of the passage of the margin provisions in the TRIA bill," Massad said.

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