Office of the Superintendent of Financial Institutions
OSFI is issuing a revised version of Guideline E-22, which is effective immediately. The revisions consist of two changes: (1) a clarification on the treatment of securities issued by entities that receive capital support from the US government, and (2) the extension of the final implementation of the initial margin requirements by one year.
The extension of the final implementation of the initial margin requirements is in line with the internationally agreed upon one-year extensionFootnote 1. With this extension, the final implementation phase will take place on September 1, 2021.
Questions on the revised guideline should be sent to Patrick Tobin, Capital Specialist, Capital Division by email (Patrick.Tobin@osfi-bsif.gc.ca).
Ben Gully Assistant Superintendent Regulation Sector
Basel Committee and IOSCO agree to one-year extension of the final implementation phase of the margin requirements for non-centrally cleared derivatives, July 23, 2019
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