EMIR: Difference between revisions
imported>Doug Williamson m (Make date format "d mmmm yyyy", as elsewhere.) |
imported>Doug Williamson m (Updated latest link for FAQ to the Dec 2013 (from Sept 2013) - 5/2/14) |
||
| Line 26: | Line 26: | ||
[http://www.treasurers.org/otc ACT briefing note: European regulation of OTC derivatives: Implications for non-financial companies, April 2013 ] | [http://www.treasurers.org/otc ACT briefing note: European regulation of OTC derivatives: Implications for non-financial companies, April 2013 ] | ||
[http://www.treasurers.org/node/9406 | [http://www.treasurers.org/node/9406 Frequently Asked Questions for non financial counterparties - updated December 2013] | ||
[http://www.treasurers.org/node/9344 EMIR edges near, The Treasurer, September 2013] | [http://www.treasurers.org/node/9344 EMIR edges near, The Treasurer, September 2013] | ||
Revision as of 16:59, 5 February 2014
European Market Infrastructure Regulation[1] (EMIR) came into force as binding law within the European Union on 16 August 2012, although certain of its requirements came into force after a period of delay.
The objective of EMIR is to reduce the risks posed to financial systems from the vast web of Over the counter (OTC) derivative transactions and the contingent large credit exposures that may arise as a consequence. The Regulation achieves this object by three significant requirements for:
• Central clearing and margining of standardised OTC derivatives (with certain exemptions for Non-Financial Counterparties)
• Reporting of all derivative transactions to a trade repository
• Risk mitigation measures for all non cleared derivatives including collateral exchange and confirmation and reconciliation procedures
See also
Other links
Frequently Asked Questions for non financial counterparties - updated December 2013
EMIR edges near, The Treasurer, September 2013
