Since the BIS recommendation for an additional 1 year delay to UMR, where do national regulators stand?

Quick progress being made by regulators to confirm BCBS/IOSCO’s recent guidance to delay Initial Margin phases 5 and 6 by one year, due to COVID-19, to Sept-21 and Sept-22 respectively.

DELAY CONFIRMED

• Singapore (MAS)
• Canada (OSFI)
• Japan (JSFA)
• Switzerland (FINMA)
• Australia (APRA)

WAITING TO HEAR

• US (CFTC, Prus, SEC)
• Europe (ESAs)
• Hong Kong (HKMA, SEC)
• Korea
• South Africa
• Brazil
• Mexico
• The rest

The good news is that, based on recent industry updates, we believe the remainder will follow suit over time. Please shout us at Margin Tonic or info@margintonic.com for related questions.

Photo by Joshua Earle on Unsplash