Dual IM relief may slash 2020 docs burden by 90%
Isda sees around 8,000 counterparty relationships lifted from phase-five repapering
Two recommendations issued by international standard-setters, which aim to smooth preparations for initial margin (IM) rules on non-cleared derivatives, could see the documentation effort slashed by almost 90% for September 2020 implementation, reining in the so-called IM ‘big bang’ – at least for another year.
Recommendations from the Basel Committee on Banking Supervision (BCBS) and International Organization of Securities Commissions (Iosco) would split the IM big bang in two and lighten the
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