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In July 2011, the G20 added margin requirements for uncleared derivatives to its regulatory reform agenda. The setting of margin standards was entrusted to the Basel Committee on Banking Supervision (BCBS) and the International Organisation of Securities Commissions (IOSCO), and final standards were issued in September 2013. In March 2015 BCBS-IOSCO issued a revised framework and extended the timeline for the implementation of final standards.
