On April 14, 2020, FINMA communicated in its Guidance 04/2020
that it extends the initial margin implementation dates for phase 5
and 6 by one year.
On April 3, 2020, the Basel Committee on Banking Supervision
("BCBS") and the International Organization of Securities
Commissions ("IOSCO") have agreed to delay the initial
margin implementation dates for phase 5 and 6 to allow firms to
focus resources on combatting the impact of the Covid-19 outbreak
on their businesses.
FINMA supports the recommendation made by the Basel Committee
and IOSCO and has, based on Article 131 para. 6 FMIO, extended the
two final implementation dates for the mandatory exchange of
initial margins under the FMIA (set out in Article 131 para. 5
let.dbis and e FMIO) by one year.
