European Commission endorses with amendments the draft regulatory technical standards on margin requirements for non-cleared derivatives

On 28 July 2016, the European Commission (EC) endorsed, with amendments, the draft regulatory technical standards (RTS) on risk-mitigation techniques for OTC derivative contracts not cleared by a CCP under Article 11 of the European Market Infrastructure Regulation (EMIR). The RTS detail the requirements for firms to exchange margins on non-centrally cleared OTC derivatives.

This is in accordance with Article 10 of the European Supervisory Authorities (EBA, ESMA and EIOPA (ESAs)) Regulations and the ESAs have six weeks to respond to the Commission’s amendments.

A letter to the ESAs from the Commission detailing the amendments as well as the text and annex of the delegated regulation can be found on the EC’s EMIR web page.