More than a dozen financial institutions are awaiting legal opinions, or so-called blessings, saying they have met requirements to serve as custodian banks qualified to hold collateral for derivatives deals under uncleared margin rules. The need by so many banks to obtain legal opinions could delay implementation of uncleared margin rules. Practice Insight (06 Dec.)
British Prime Minister Theresa May has continued to push for a parliamentary vote on her Brexit deal Tuesday but has stopped short of ruling out postponement. Members of May's party have urged her to delay the vote, and a source says she has discussed options with top ministers, including rescheduling the vote. Politico (06 Dec.)
First-time jobless claims in the US declined 4,000 last week to 231,000, short of the 225,000 projected by economists surveyed by Reuters. The four-week moving average increased 4,250, to 228,000, the highest level since mid-April. Reuters (06 Dec.)
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