inherits
UBS inherits Credit Suisse’s toxic swaps quietly. No margin rules triggered in hidden derivatives dump. CFTC bends rules to avoid systemic quake
via BossBlunts1: WHY THE CFTC NO-ACTION LETTER MATTERS It allows UBS to absorb toxic Credit Suisse swaps quietly — no clearing or margin requirements kick in. It shields these legacy exposures from public scrutiny. It suggests the risk is so large or complex, that the CFTC believes enforcing margin and …