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    ESAs Publish Joint Q&A on Bilateral Margin Requirements Under EMIR

    March 19, 2021

    ESAs jointly published a set of questions and answers (Q&A) with respect to the regulatory technical standards on bilateral margin requirements (RTS 2016/2251) under the European Markets Infrastructure Regulation or EMIR (Regulation 648/2012). This set of Q&A is intended to promote common supervisory approaches and practices in application of EMIR by answering the relevant questions from the public, market participants, and competent authorities.

    The joint Q&As on Bilateral Margining clarify different aspects of the bilateral margin regime under EMIR:

    • Relief covered by a partial intragroup exemption from bilateral margin requirements
    • Procedure to grant intragroup exemptions from bilateral margin requirements, between a financial counterparty and a non-financial counterparty, that are based in different member states
    • Exemption regime from bilateral margin requirements for derivatives entered into in relation to covered bonds

     

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    Keywords: Europe, EU, Banking, Insurance, Securities, EMIR, Regulatory Technical Standards, Q&A, Covered Bonds, Intragroup Transactions, Margin Requirements, ESAs

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