Regulatory Developments: BCBS-IOSCO's Margin Requirements for Non-Centrally Cleared Derivatives | White & Case LLP International Law Firm, Global Law Practice
Regulatory Developments: BCBS-IOSCO's Margin Requirements for Non-Centrally Cleared Derivatives

Regulatory Developments: BCBS-IOSCO's Margin Requirements for Non-Centrally Cleared Derivatives

On September 2, 2013, the Basel Committee on Banking Supervision and the International Organization of Securities Commissions in consultation with the Committee on Payment and Settlement Systems and the Committee on the Global Financial System, published the final policy framework[1] for the initial margin and variation margin requirements for derivatives that are not cleared through a central counterparty. The Framework consists of eight key principles (as further discussed below) and is anticipated to be the base framework for the regulatory technical standards to be promulgated by the European Securities and Markets Authority. The Framework will likely also influence regulators in the United States as they prepare their final regulations.

 

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[1] - Available at: http://www.bis.org/publ/bcbs261.pdf

 

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