Regulatory Alerts2023-10-11
Added · Updated
Commission Delegated Regulation (EU) 2024/363 amending clearing obligations for OTC derivatives referencing TONA and SOFR
The European Commission amends Delegated Regulation (EU) 2015/2205 to impose a clearing obligation on specific over-the-counter interest rate derivative contracts referencing the Secured Overnight Financing Rate (SOFR) and the Tokyo Overnight Average Rate (TONA). The regulation adds entries E.4.1 and E.4.2 to the Annex, covering USD-denominated SOFR Overnight Index Swaps with maturities from 7 days to 50 years and JPY-denominated TONA Overnight Index Swaps with maturities from 7 days to 30 years. This clearing obligation takes effect on 11 February 2024 for the specified classes of derivatives.
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