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ARTICLE · 30 DECEMBER 2020

FINRA Proposes To Delay Implementation Of TBA Margin Requirements

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FINRA submitted the filing for immediate effectiveness.

United StatesFinance and Banking
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FINRA proposed to delay, from March 25, 2021 to October 26, 2021, the implementation of amendments to FINRA margin requirements ("Rule 4210") (see previous coverage) on "To Be Announced" ("TBAs") and other "Covered Agency Transactions."

The amendments establish margin requirements for various types of forward-settling agency transactions, including TBAs, specified pool and collateralized mortgage obligation transactions. FINRA noted that this is not the first time it has delayed the implementation, though certain risk limit determination requirements of the amendments remain in effect.

FINRA submitted the filing for immediate effectiveness. The SEC has yet to publish the filing. Comments on the filing must be submitted within 21 days after publication in the Federal Register.

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