Archives: Derivatives

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Derivatives: Non-Cleared Swaps Variation Margin Update – Limited Relaxed Enforcement by the CFTC, Prudential Regulators and European Supervisory Authorities

Recently, the U.S. Commodity Futures Trading Commission (“CFTC”), the U.S. Prudential Regulators[1] and the European Supervisory Authorities (“ESAs”)[2] have offered limited relief from or guidance for relaxed enforcement of variation margin requirements for non-cleared swaps that take effect March 1, 2017.  This news follows reports that, despite all efforts, market participants are facing continued legal … Continue Reading

Derivatives: ISDA Announces 2016 New York Law Variation Margin Credit Support Annex

On April 14, 2016, the International Swaps and Derivatives Association, Inc. (ISDA) announced the 2016 ISDA Credit Support Annex for Variation Margin for use with New York law transactions (the 2016 CSA). ISDA is in the process of updating certain of its documents to account for recent regulatory reforms.  The 2016 CSA introduces updates to … Continue Reading
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