On February 23, 2017, the US prudential regulators – including the Federal Reserve Board, the Office of the Comptroller of the Currency and the International Organisation of Securities Commissions (IOSCOs) – alongside the European Supervisory Authorities (ESAs) and the Financial Conduct Authority (FCA), issued guidance as to the March 1, 2017 implementation of variation margin requirements on uncleared swaps.(1) The guidance indicates how the respective supervisory authorities and regulators will approach compliance with the variation margin requirements.

View full memo, Regulators Issue Guidance on Non-Compliance With Impending Variation Margin Requirements