Bankowość · 19/03/2019

OCC, Board, FDIC, FCA, and FHFA Adopt Interim Final Rule for Swap Margin Requirements

The OCC, Board, FDIC, FCA, and FHFA are introducing an interim final rule that requires swap dealers and security-based swap dealers to exchange margin with their counterparties for uncentralized swaps, with a phased implementation schedule from 2016 to 2020. The rule affects financial services firms in the UK, which may lose authorization to provide full-scope financial services if the UK withdraws from the EU without a negotiated agreement.