Featured Product

    CFTC Approves Delay of Compliance Date for Initial Margin Requirements

    June 25, 2020

    CFTC approved a proposal to delay the compliance date of September 01, 2021 to September 01, 2022 for the initial margin requirements for smaller entities under the CFTC Margin Rule. The requirements in this proposal apply to uncleared swaps for swap dealers and major swap participants for which there is no prudential regulator. Comments on the proposal must be received on or before 60 days after the date of publication in the Federal Register.

    In April 2020, CFTC had published a final rule to extend the compliance date of September 01, 2020 to September 01, 2021, for a portion of what was to be the final phase consisting of entities with smaller average daily aggregate notional amounts of swaps and certain other financial products (Smaller Portfolio Group). The compliance date was extended to reduce the potential market disruption that could result from a large number of entities coming into the scope of compliance on September 01, 2020. Subsequently, in May 2020, to mitigate the operational challenges faced due to the COVID-19 pandemic, CFTC adopted an interim final rule that extended the September 01, 2020 compliance date for certain entities by one year to September 01, 2021. To avoid market disruption due to a large number of entities being required to comply by September 01, 2021 under the revised compliance schedule, CFTC had issued the current proposal to further delay the compliance date for the Smaller Portfolio Group from September 01, 2021 to September 01, 2022. 

     

    Comment Due Date: FR+60 Days

    Keywords: Americas, US, Banking, Securities, Swaps, Derivatives, Initial Margin, Compliance Date, CFTC

    Related Articles
    News

    PRA Consults on Implementation of Certain Provisions of CRD5

    PRA, via the consultation paper CP12/20, proposed changes to its rules, supervisory statements, and statements of policy to implement certain elements of the Capital Requirements Directive (CRD5).

    July 31, 2020 WebPage Regulatory News
    News

    EIOPA Report Identifies Key Financial Stability Risks for Insurers

    EIOPA published the financial stability report that provides detailed quantitative and qualitative assessment of the key risks identified for the insurance and occupational pensions sectors in the European Economic Area.

    July 30, 2020 WebPage Regulatory News
    News

    EBA Publishes Risk Dashboard for First Quarter of 2020

    EBA published its risk dashboard for the first quarter of 2020 together with the results of the risk assessment questionnaire.

    July 30, 2020 WebPage Regulatory News
    News

    EBA Issues Updates on Stress Test Exercise for Banks in EU

    EBA announced that the next stress testing exercise is expected to be launched at the end of January 2021 and its results are to be published at the end of July 2021.

    July 30, 2020 WebPage Regulatory News
    News

    PRA Proposes Guidance Related to Matching Adjustment under Solvency II

    PRA published the consultation paper CP11/20 that sets out its expectations and guidance related to auditors’ work on the matching adjustment under Solvency II.

    July 30, 2020 WebPage Regulatory News
    News

    MAS Issues Guidance on Dividend Distributions by Banks

    MAS published a statement guidance on dividend distribution by banks.

    July 30, 2020 WebPage Regulatory News
    News

    APRA Updates Guidance on Capital Management for Banks

    APRA updated its capital management guidance for banks, particularly easing restrictions around paying dividends as institutions continue to manage the disruption caused by COVID-19 pandemic.

    July 29, 2020 WebPage Regulatory News
    News

    FSB Report Reviews Macro-Prudential Framework and Tools in Germany

    FSB published a report that reviews the progress on data collection for macro-prudential analysis and the availability and use of macro-prudential tools in Germany.

    July 29, 2020 WebPage Regulatory News
    News

    EBA Urges Firms to Finalize Preparations for End of Brexit Transition

    EBA issued a statement reminding financial institutions that the transition period between EU and UK will expire on December 31, 2020; this will end the possibility for the UK-based financial institutions to offer financial services to EU customers on a cross-border basis via passporting.

    July 29, 2020 WebPage Regulatory News
    News

    SRB on Operational Continuity in Resolution and FMI Contingency Plans

    SRB published guidance on operational continuity in resolution and financial market infrastructure (FMI) contingency plans.

    July 29, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5604