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ARTICLE · 24 JANUARY 2022

Proposed Changes To The Luxembourg Financial Collateral Law

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On 20 December 2021, a draft law No. 7933 (the "Draft Law") was lodged with the Luxembourg Chamber of Deputies.

LuxembourgFinance and Banking
Nuala Doyle
Nuala Doyle
Laurent Lazard
Laurent Lazard
Nicolas Widung
Nicolas Widung

Draft law proposing amendments to the Luxembourg financial collateral law

On 20 December 2021, a draft law No. 7933 (the "Draft Law") was lodged with the Luxembourg Chamber of Deputies. While the main aim of the Draft Law is to implement Regulation (EU) 2021/23 of 16 December 2020 on a framework for the recovery and resolution of central counterparties (the "CCP Recovery and Resolution Regulation"), the Draft Law also takes the opportunity to bring a number of changes to the Luxembourg law of 5 August 2005 on financial collateral arrangements, as amended (the "Financial Collateral Law"), which transposes Directive 2002/47/EC of 6 June 2002 on financial collateral arrangements (the "Financial Collateral Directive") into Luxembourg law. This publication will focus on such proposed changes to the Financial Collateral Law.

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