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A CFTC interim final rule to delay the implementation of "Phase Five" initial margin requirements for uncleared derivatives was published in the Federal Register.
within Intellectual Property, Food, Drugs, Healthcare, Life Sciences, Government and Public Sector topic(s)
A CFTC interim final rule to delay the implementation of
"Phase Five" initial margin requirements for uncleared
derivatives
was published in the Federal Register. The rule is now
effective and comments must be submitted by September 8, 2020.
As
previously covered, the delay follows a
recommendation from the Basel Committee on Banking
Supervision-IOSCO. Under the interim final rule, the implementation
will (i) be delayed from September 1, 2020 to September 1, 2021 and
(ii) affect firms with an aggregate average notional amount of
between $50 billion and $750 billion over the relevant measuring
period.
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