Commission Delegated Regulation (EU) 2021/236 amending technical standards on the timing of risk management procedures for collateral exchange

The European Commission amends Delegated Regulation (EU) 2016/2251 to extend the implementation deadlines for initial margin requirements on non-centrally cleared OTC derivatives. Counterparties with an aggregate average notional amount above EUR 50 billion must comply from 1 September 2021, while those above EUR 8 billion must comply from 1 September 2022. The regulation also introduces a permanent exemption from variation margin requirements for physically settled foreign exchange forwards and swaps entered into with non-institutions. Additionally, it defers collateral exchange obligations for contracts novated to replace UK counterparties with EU-based entities until 1 January 2022 and postpones requirements for single-stock equity and index options until 4 January 2024.

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This document amends: Commission Delegated Regulation (EU) 2016/2251 of 4 October 2016 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to regulatory technical standards for risk-mitigation techniques for OTC derivative contracts not cleared by a central counterparty (Text with EEA relevance )

Source: European Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works