PS24/13: Joint PRA and FCA Consequential Amendments to BTS 2016/2251 — FCA — GB

We set out finalised changes to the UK EMIR bilateral margin requirements with the Prudential Regulation Authority (PRA).

Read PS17/24 - Responses to CP6/24: OCP policy statement Link is external Why are we doing this We’re making consequential amendments to the Binding Technical Standards (BTS) 2016/2251 jointly with the PRA. The amendments are necessary to reflect the expected changes to the UK version of the European Market Infrastructure Regulation (UK EMIR) that will be made in the Securitisation (Amendment) Regulations 2024. Who is this for The publication is relevant to PRA-authorised banks, building societies and PRA-designated investment firms in scope of the margin requirements under UK EMIR. It is also relevant to all FCA solo-regulated entities and non-financial counterparties in scope of the margin requirements under UK EMIR. Next steps The amendments will come into force on 1 November 2024 to align with the changes to UK EMIR.

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Amends

Binding Technical Standards (BTS) 2016/2251Not in RegAlert
“We’re making consequential amendments to the Binding Technical Standards (BTS) 2016/2251 jointly with the PRA.”