Regulatory Alerts2019-08-16
Added · Updated
One-year Extension of the Final Implementation Phase of the Margin Requirements for Non-centrally Cleared Derivatives
The Hong Kong Monetary Authority adopts the Basel Committee on Banking Supervision and International Organization of Securities Commissions joint statement to extend the final implementation of initial margin requirements for non-centrally cleared derivatives by one year. The final phase, originally scheduled for 1 September 2020, is postponed to 1 September 2021, while an interim phase with an aggregate average notional amount threshold of HKD 375 billion is introduced for the period from 1 September 2020 to 31 August 2021. Authorized institutions are expected to make all relevant arrangements timely to comply with this revised timeline, and the Supervisory Policy Manual module CR-G-14 will be amended accordingly.
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