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ARTICLE · 10 JUNE 2020

Changes To The EMIR Margining Requirements

Dillon Eustace
Dillon Eustace
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On 4 May, 2020, the European Supervisory Authorities (the "ESAs") published a revised version of the draft regulatory technical standards amending the Delegated Regulation1 on risk mitigation techniques for non-centrally cleared OTC ...

European UnionFinance and Banking
Karen Jennings
Karen Jennings
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On 4 May, 2020, the European Supervisory Authorities (the "ESAs") published a revised version of the draft regulatory technical standards amending the Delegated Regulation1 on risk mitigation techniques for non-centrally cleared OTC derivatives (bilateral margining) under EMIR2 (the "RTS").

The former version of the revised RTS had been published on the website of the ESAs on 5 December 20193. However, in response to the Covid-19 outbreak, the ESAs have updated the RTS to take into account the related decision from the Basel Committee on Banking Supervision ("BCBS") and the International Organisation of Securities Commissions ("IOSCO") to defer by one year the implementation of the remaining phases of the initial margin requirement4.

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