Phase five initial margin deadline passes with EU silent

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By Ross Lancaster
02 Sep 2020

Derivatives counterparties breathed easy in March when the Basel Committee on Banking Supervision and the International Organisation of Securities Commissions announced a year’s delay in the introduction of initial margin rules. But in Europe — with the deadline already passed — legal confirmation has still not appeared.

The failure to pass legislation in time has renewed calls for European regulators to be equipped with new mechanisms to allow fast and clear forbearance when needed.

“If ever there was a reason for 'no-action letters' it is this, particularly at a time when lawmakers are struggling to ...

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