Regulatory Alerts2020-05-11 | 2020-08601Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
The Commodity Futures Trading Commission amends its margin requirements for uncleared swaps to exclude the European Stability Mechanism from the definition of financial end user. This exclusion exempts uncleared swaps entered into by the ESM with swap dealers and major swap participants from initial and variation margin rules. The Commission also corrects an erroneous cross-reference in its regulations regarding eligible collateral for custodial agreements.
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