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April 17, 2020

Covid 19 UMR Delay – National Regulators Status

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


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