1 Amendments of Gay MITCHELL related to 2010/0251(COD)
Amendment 194 #
Proposal for a regulation
Recital 17
Recital 17
(17) Measures relating to sovereign debt and sovereign credit default swaps including increased transparency and restrictions on uncovered short selling should impose requirements which are proportionate and at the same time avoid an adverse impact on the liquidity of sovereign bond markets and sovereign bond repurchase (repo) markets. In practice, sovereign credit default swaps are commonly and legitimately used to hedge risks other than direct exposure to sovereign bonds. This Regulation should not therefore prohibit the use of uncovered positions in sovereign credit default swaps.