Regulatory Alerts2018-08-17
Draft FSRA Joint Standard on Margin Requirements for Non-Centrally Cleared OTC Derivatives
The Financial Sector Conduct Authority and the Prudential Authority, with the South African Reserve Bank, published a draft joint standard prescribing margin requirements for non-centrally cleared over-the-counter derivative transactions under the Financial Sector Regulation Act, 2017. The standard establishes mandatory collateral frameworks to mitigate counterparty credit risk in bilateral derivative markets. Accompanying materials include a comments matrix, an impact assessment statement, and a formal invitation for public submissions under section 98(1) of the Act.
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