The proposed changes would extend exemptions from initial margin requirements to existing uncleared over-the-counter (OTC) derivative contracts.
The European Supervisory Authorities (ESAs) have proposed amendments to the regulatory technical standards governing initial margin requirements for uncleared OTC derivatives under the European Market Infrastructure Regulation (Emir) in its report published on 3 August. The ESAs said the current approach creates operational and administrative burdens The ESAs noted that the proposed changes would extend an existing exemption from initial margin requirements to cover both future and out