Regulatory Alerts2021-06-09
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Joint Communication 2 of 2021: Effective Date for Margin Requirements on Non-Centrally Cleared Derivatives
The Financial Sector Conduct Authority and the Prudential Authority have issued Joint Communication 2 of 2021 to formally establish the implementation date for their June 2020 margin requirements standard. The communication sets 16 August 2021 as the effective date for Joint Standard 2 of 2020, which mandates bilateral collateral margining for non-centrally cleared over-the-counter derivative transactions. Financial institutions and market participants must align their risk management and collateral posting practices with these requirements by the specified deadline.
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