European companies fight derivative reform

European companies don't want any derivative reform, so look what the Association of Corporate Treasurers said in their current white paper on it:

The ACT comment paper, submitted on Thursday to the European Commission, says the proposed rules could introduce new risks to companies.

“In attempting to remove the credit risk between a company and a bank which is not systemically significant, a serious liquidity risk for the firm would be introduced instead.”

Hmmm.

So it's not systemically significant, but it would impart liquidity risk to the companies if they put up more collateral?

Maybe these Wall Street bankers don't need to be selling all these derivatives to these companies anyway!