TheBaselCommittee on Banking Supervision (BCBS) and the International Organisation of Securities Commissions have published a consultative paper on margin requirements for non-centrally-cleared derivatives. A quantitative impact study until 28 September 2012 will help them gain public feedback on the scope, feasibility and impact of its proposed measures.
The BCBS claims that the new consultative paper lays out high-level principles on margining practices plus treatment of collateral and proposes margin requirements for non-centrally-cleared derivatives. Articulated through a set of key principles, the latest policy proposals seek to assure that appropriate margining practices are established for all non-centrally-cleared over the counter derivative transactions. They will apply to all transactions involving financial firms or systemically important non-financial entities.