Regulatory Alerts2024-05-27
Joint Communication 3 of 2024: Expansion of Eligible Collateral Types and Risk Management Protocols for Non-Cash Collateral
The Prudential Authority and Financial Sector Conduct Authority have published a joint discussion document proposing expanded eligible collateral types and updated risk management protocols for non-cash collateral under Joint Standard 2 of 2020. The proposals specifically target authorized over-the-counter derivative providers seeking to utilize non-cash collateral, outlining required risk management measures and further broadening the range of acceptable collateral. Interested parties are invited to submit feedback using the provided template via email by 8 July 2024, with comments informing a forthcoming formal Determination.
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