Regulatory Alerts2013-07-17
Communication of the NBB and FSMA on EMIR Obligations for Supervised Institutions
The National Bank of Belgium and the Financial Services and Markets Authority inform supervised institutions of their obligations under the EMIR Delegated Regulations effective from March 2013. The communication details the clearing mandate for standardized OTC derivatives, risk-mitigation techniques for non-cleared contracts, and mandatory reporting requirements to trade repositories. It specifies that these rules apply to both financial and non-financial counterparties, with distinct thresholds and phased implementation dates for each obligation type.
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