PS23/19: Margin requirements for non-centrally cleared derivatives: Amendments to BTS 2016/2251

The Prudential Regulation Authority issued Policy Statement PS23/19 to amend the Bank Transfer Scheme 2016/2251 regarding margin requirements for non-centrally cleared derivatives. The document finalizes rules following a consultation period that ran from July to October 2023, with the policy statement published in December 2023. These amendments establish the regulatory framework for initial and variation margin exchanges between financial counterparties to mitigate counterparty credit risk.

United Kingdom

Financial Conduct Authority

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Consultation open

18/07/2023

Consultation close

18/10/2023

Policy Statement

18/12/2023

18/12/2023