OSFI Updates Margin Requirements For Non-Centrally Cleared Derivatives

This post provides an update on Guideline E-22 Margin Requirements for Non-Centrally Cleared Derivatives (Guideline) from the Office of Superintendent of Financial Institutions (OSFI).  By way of background, as a member of the Basel Committee on Banking Supervision (BCBS), Canada participated in the development of the BCBS and the International Organization of Securities Commissions (IOSCO) policy framework on margin requirements for non-centrally cleared derivatives. This Guideline is based on the BCBS-IOSCO framework and establishes minimum standards for margin requirements for non-centrally cleared derivative transactions undertaken by certain federally regulated financial institutions.