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Margin requirements for non-centrally cleared derivatives

Summary of document history   Previous version Previousconsultation This version Subsequentconsultation Subsequentversion Margin requirements for non-centrally cleared derivatives 23 Jul 2019 Type:  Standards Status:  Superseded This version BCBS  |  Standards  |  03 April 2020  |  Status:  Current PDF

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Summary of document history  

This version

BCBS  | 
03 April 2020
Status:  Current
PDF full text
 |  30 pages
Topics: Market risk

The Basel Committee on Banking Supervision and the International Organization of Securities Commissions (IOSCO) have revised the framework for margin requirements for non-centrally cleared derivatives

Relative to the 2019 framework the revision extend by one year the final two implementation phases of the margin requirements. With this extension, the final implementation phase will take place on 1 September 2022. This extended timeline will provide additional operational capacity for firms to respond to the immediate impact of the Covid-19 and at the same time, facilitate covered entities to act diligently to comply with the requirements by the revised deadline.

The Basel Committee and IOSCO will continue to monitor progress in implementation to ensure consistent implementation across products, jurisdictions and market participants.

International Settlement
The Bank for International Settlements (BIS) is an international company limited by shares owned by central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work through subcommittees, the secretariats it hosts and through an annual general meeting of all member banks. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.

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