20 December 2014

Stuart Clark

Stuart Clark - Impendium Systems

272Posts 372,160Views 0Comments

Financial Services Regulation

This network is for financial professionals interested in staying up to date on financial services regulation happening anywhere in the world. CFOs, bankers, fund managers, treasurers welcome.

ESAs issue RTS for non-centrally cleared OTC derivatives

01 May 2014  |  1072 views  |  0

The European Supervisory Authorities (ESAs) have launched a consultation on draft Regulatory Technical Standards (‘RTS') covering:

  • the risk management procedures for counterparties to non-centrally cleared OTC derivatives - prescribing that counterparties apply robust risk mitigation techniques to their bilateral relationships, which will include mandatory exchange of initial and variation margins to reduce counterparty credit risk, mitigate any potential systemic risk and ensure alignment with international standards. The RTS lay down the methodologies for the determination of the appropriate level of margins, the criteria that define liquid high-quality collateral, the list of eligible asset classes, collateral haircuts and concentration limits;
  • the procedures for counterparties and competent authorities concerning intragroup exemptions; and
  • the criteria for the identification of practical and legal impediments to the prompt transfer of funds between counterparties - the ESAs are proposing not to allow re-hypothecation of collateral collected for initial margins.  

Feedback is sought by 14 July 2014 with a view to submitting final RTS to the Commission for approval before the end of 2014.

Related link:

http://www.eba.europa.eu/documents/10180/655149/JC+CP+2014+03+%28CP+on+risk+mitigation+for+OTC+derivatives%29.pdf

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Latest posts from Stuart

FSB to publish report on sharing derivative data

08 May 2014  |  1421 views  |  0  |  Recommends 0 GroupFinancial Services Regulation

BCBS publishes capital standard for bank exposures to CCPs

07 May 2014  |  3871 views  |  0  |  Recommends 0 GroupFinancial Services Regulation

EIOPA chair calls for extended powers of inquiry

06 May 2014  |  798 views  |  0  |  Recommends 0 GroupFinancial Services Regulation

EC consults on the definition of FX financial instruments

02 May 2014  |  1335 views  |  0  |  Recommends 0 GroupFinancial Services Regulation

ESAs issue RTS for non-centrally cleared OTC derivatives

01 May 2014  |  1072 views  |  0  |  Recommends 0 GroupFinancial Services Regulation

Stuart's profile

job title Product Development Director
location London
member since 2012
Summary profile See full profile »
Co-founded Impendium in 2006. Previously head of Client Services for Deutsche Banks top 100 customers.

Stuart's expertise

What Stuart reads
Stuart writes about

Who is commenting on Stuart's posts

Horst Simon