Basel Committee and IOSCO Issue Near-Final Proposal on Margin Requirements for Non-Centrally Cleared Derivatives

The Basel Committee on Banking Supervision and IOSCO have published a second consultative paper on margin requirements for non-centrally cleared derivatives.  Among the questions raised by the paper are those relating to:

1. The treatment of physically-settled foreign exchange (“FX”) forwards and swaps under the framework,
2. The ability to engage in limited re-hypothecation of collected initial margin,
3. The proposed phase-in framework, and
4. The adequacy of the conducted quantitative impact study (“QIS”).

Comments Due: March 15, 2013.  Comments may be submitted by email.

Click here to view the Second Consultative Document in full (links externally to IOSCO website).

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