JFSA has finalized amendments to the "Cabinet Office Order on Financial Instruments Business." The amendments mainly defer the final two implementation phases of margin requirements for non-centrally cleared derivative transactions by one year. The aim of the deferral is to provide additional operational capacity for firms to respond to the immediate impact of COVID-19 crisis. This is in line with the deferred implementation phases of margin requirements for non-centrally cleared derivatives transactions announced by BCBS and IOSCO on April 03, 2020. The amendments have been enforced since June 25, 2020.
Effective Date: June 25, 2020
Keywords: Asia Pacific, Japan, Banking, Securities, OTC Derivatives, Implementation Timeline, COVID-19, Margin Requirements, Basel, BCBS, IOSCO, JFSA
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