European Union (EU) and U.S. regulators are nearing a deal on oversight of the US$553 trillion global derivatives markets that would prevent an increase in EU capital requirements from hitting banks this year.

Jonathan Hill, the EU's financial-services chief, said that an agreement is expected shortly and that progress has been made in negotiations with the U.S. Commodity Futures Trading Commission (CFTC) on supervision of clearinghouses such as those operated by CME Group Inc. and LCH.Clearnet Group Ltd. that are at the center of the market.

"I think the parameters of how we can resolve this look clearer than they were," Hill said in an interview in his Brussels office last week. "I think that both we and the CFTC hope that we will be able to resolve this soon," he said.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.