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Now that we know the effective date of the EU rules for the margining of uncleared swaps, we have created an up-dated and final version of the comparison of the EU and US margin rules...
Now that we know the effective date of the EU rules for the
margining of uncleared swaps, we have created an up-dated and final
version of the comparison of the EU and US margin rules that we originally
created in conjunction with US law firm, Kramer Levin.
For those who have received this previously, the latest changes
are:
Effective date of rules (including policies, procedures and
netting and collateral legal reviews) – 4 January 2017
Effective date for IM and VM for phase one swap dealers –
4 February 2017
Effective date for VM for all FCs/NFC+s and equivalents –
1 March 2017
Latest industry interpretation of the settlement period for
margin calls under the European rules, being now next day for cash
as long as the transfer is initiated on the day of the call
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
