European policy makers took steps Thursday to ease a cross-border dispute with the US over the regulation of derivatives, delaying onerous capital charges that would have gone into effect for European banks that do business with US clearinghouses like CME Group Inc. and Intercontinental Exchange Inc.

The European Commission formally delayed until June 2015 a requirement that European banks face significantly higher capital charges unless they move derivatives trades away from clearinghouses based in the US and other countries that operate under rules that haven't been deemed "equivalent" to those in Europe. The higher capital charges were set to go into effect next week without the delay.