At a glance
The drumbeat for global mandatory margin requirements on uncleared swap transactions is quickening.
The drumbeat for global mandatory margin requirements on uncleared swap transactions is quickening. The G20’s agreement in 2011 to require margin for these transactions reached an important point in February 2013 when the Basel Committee on Banking Supervision and the International Organization of Securities Commissions announced “near-final” principles for requiring uncleared swap margin.
This FS Regulatory Brief (a) analyzes the key areas where Basel/IOSCO has reached consensus and where global agreement remains outstanding; (b) provides our perspective on when final global principles are likely to be reached, and ultimately implemented in the US; and (c) points out important areas of market and institutional impact, suggesting what firms should be doing now.