Tag: Working Group on Margining Requirements
Seeing Double: ISDA Highlights Imminent WGMR Documentation Challenge
In a recent webcast, ISDA highlighted the impact on portfolios of derivative documentation which will result from its various workstreams designed to facilitate compliance with the Working Group on Margining Requirements’ (WGMR) forthcoming rules on margin for non-centrally cleared derivatives. It is required listening for anyone with responsibility for derivative documentation, but a summary is […]
Margin Requirements for OTC Derivatives – Regulators Listen but do they Hear?
Introduction On 2 September 2013, the Basel Committee on Banking Supervision (“BCBS”) and the International Organization of Securities Commissions (“IOSCO”) published their long-awaited final policy document dealing with “Margin requirements for non-centrally cleared derivatives”. Scope Subject to certain exemptions discussed below, the final rules apply to financial firms and systemically important non-financial entities (“Covered Entities”) […]
Prepare to Dust Off Those CSAs…BCBS/IOSCO Publish “Near Final” Margin Rules for Non-Cleared Derivatives
Introduction On 15 February 2013, The Basel Committee on Banking Supervision (“BCBS”) and the International Organization of Securities Commissions (“IOSCO”) published a second consultative paper, representing “near-final” margin requirements for non-centrally cleared derivatives. The BIS/IOSCO proposals focus on 8 key principles, as detailed below. Comments on limited aspects of the consultation paper are sought by […]
Non-Cleared Derivatives Margin Rules to be Published Imminently
Risk Magazine is reporting that the International Organization of Securities Commissions (IOSCO) will publish an interim consultation on collateral requirements for non-centrally cleared derivatives within days. The article states that David Wright, Secretary General of IOSCO, also confirmed IOSCO’s goal to have the standards completed by September 2012.
Margin Rules for Non-Cleared Derivatives Delayed Again
Any hopes of seeing a global standard with respect to the margining of non-cleared derivatives in the near future seem to have been dashed. Risk reports that the group tasked with drafting the rules, the Working Group on Margining Requirements (a joint working group of the Basel Committee on Banking Supervision and the International Organization […]