ISDA Regulatory Margin Self-Disclosure Letter

The Regulatory Margin Self-Disclosure Letter, published on 30 June  2016 by the International Swaps and Derivatives Association, Inc. ("ISDA") (the " Letter"), represents one of the first major steps taken by the derivatives industry towards facilitating compliance with the rules of various regulatory regimes for the collection and posting of initial and variation margin for non-cleared derivatives. These rules have been proposed or adopted in the EU, in the U.S., in Canada, in Japan and in Switzerland and in each case are based on the framework published by the Basel Committee on Banking Supervision and the International Organization of Securities Commissions. Other regulators around the globe, such as those in Hong Kong and Australia,  are expected to follow suit.