OSFI verifies their IM Delay requirements
(Last updated: )
The spread of COVID-19 has not stopped the OSFI of Canada from verifying their IM arrangements. As was previously covered, the OSFI of Canada has issued a revised version of its Margin Requirements for Non-Centrally Cleared Derivatives. Since BCBS’s March 2019 announcement, the OSFI was the first regulator to announce that they would be extending their phase-in timeline and today’s statement represents final ratification.
The new threshold for September 1, 2020 is CAD 75 billion. The CAD 12 billion AANA level will now apply on a permanent basis beginning September 1, 2021.
ISDA have updated the AANA Calculation Periods and Compliance Dates as follows:Contact Us