Retained EU Law SI 2016/2251 United Kingdom

Commission Delegated Regulation (EU) 2016/2251 of 4 October 2016 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to regulatory technical standards for risk-mitigation techniques for OTC derivative contracts not cleared by a central counterparty (Text with EEA relevance)

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Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Any Person6

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Any Person — also bound by 2340 other Acts

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.art006 Credit quality assessment Regulated
  • Assess credit quality of non-domestic currency collateral assetsAny Person
s.art008 Concentration limits for initial margin Regulated
  • Diversify initial margin collateral to avoid over-concentrationAny Person
s.art012 Provision of variation margin Regulated
  • Provide variation margin on time or within extended deadlineAny Person
s.art019 Collateral management and segregation Regulated
  • Manage and segregate collateral in OTC derivatives tradingAny Person
s.art020 Treatment of collected initial margins Regulated
  • Do not rehypothecate or reuse initial margin collateralAny Person
s.art025 Minimum transfer amount Regulated
  • Collect full collateral due when amount exceeds minimum transfer amountAny Person
37 other provisions — procedural and definitional
s.annex i para.1 An internal rating with a PD equal to or lower...
s.annex i para.2 Table 1 Credit Quality Step Probability of default, as defined...
s.art001 Definitions
s.art002 General requirements
s.art003 Exchange of collateral agreement
s.art004 Eligible collateral
s.art005 Eligibility criteria for units or shares in UCITS
s.art007 Specific requirements for eligible assets
s.art009 Frequency of calculation and determination of the calculation date
s.art010 Calculation of variation margin
s.art011 Calculation of initial margin
s.art013 Provision of initial margin
s.art014 General requirements
s.art015 Confidence interval and MPOR
s.art016 Calibration of the parameters of the model
s.art017 Diversification, hedging and risk offsets across underlying classes
s.art018 Qualitative requirements
s.art021 Calculation of the adjusted value of collateral
s.art022 Own estimates of the adjusted value of collateral
s.art023 CCPs authorised as credit institutions
s.art024 Non-financial counterparties and third-country counterparties
s.art026 Margin calculation with third-country counterparties
s.art027 Foreign exchange contracts
s.art028 Threshold based on notional amount
s.art029 Threshold based on initial margin amounts
s.art030 Treatment of derivatives associated to covered bonds for hedging purposes
s.art030 Treatment of derivatives in connection with securitisations for hedging purposes
s.art031 Treatment of derivatives with counterparties in third countries where legal enforceability of netting agreements or collateral protection cannot be ensured
s.art032 Procedures for counterparties and relevant competent authorities
s.art033 Applicable criteria on the legal impediment to the prompt transfer of own funds and repayment of liabilities
s.art034 Applicable criteria on the practical impediments to the prompt transfer of own funds and repayment of liabilities
s.art035 Transitional provisions
s.art036 Application of 9(2), Article 11, Articles 13 to 18, points (c), (d) and (f) of Article 19(1), Article 19(3) and Article 20
s.art037 Application of Articles 9(1), 10 and 12
s.art038 Dates of application for specific contracts
s.art039 Calculation of aggregate average notional amount
s.art040 Entry into force

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