Peter Cosmetatos, director of policy at the British Property Federation, explains how it and other real estate organisations have failed to force a recognition from Europe's policy makers that real estate managers should be considered as non-financial when determining which businesses are to be effected by the European Market Infrastructure Regulation (EMIR).
As a result, real estate managers are going to have to post liquid collateral with central clearing houses when executing over the counter hedges – which could sideline large proportions of a firm's capital.
He stated that more could have been done by the real estate markets of European Union member states to force a carve out for the sector, however, he added there still is a small window of 'a matter of weeks' in which a change could be pushed on to the agenda.
VIDEO: 'Window' remains to influence change on EMIR
The BPF's Peter Cosmetatos, told PERE on the sidelines of last week's PERE Forum: Europe 2011, how real estate organisations have 'fallen at the last hurdle' in their attempt to save firms from having to post significant collateral against their hedging trades. But he said their remained a small window of opportunity to influence change.
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