Geithner wants global rules on derivatives

US Treasury Secretary said that without international consensus central clearing will be undermined

US Treasury Secretary Timothy Geithner urged global regulators to develop common standards to ensure banks trading in the uncleared derivatives market have sufficient collateral, or margin, to weather future economic crises.

"Just as we have global minimum standards for bank capital-expressed in a tangible international agreement-we need global minimum standards for margins on uncleared derivatives trades," Geithner told an international monetary conference in Atlanta yesterday.

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Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is ReachedExternal link

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached