MFA Submits Comment Letter in Response to Basel-IOSCO’s Consultative Document on Margin Requirements for Non-Cleared Derivatives

The MFA submitted a comment letter to the Working Group on Margining Requirements (WGMR) of the Basel Committee and the Board of IOSCO in response to the Basel-IOSCO Consultative Document on Margin Requirements for Non-Centrally-Cleared Derivatives. In the letter, the MFA urged the WGMR to take into consideration the importance of certain non-cleared derivatives as customized risk management tools, and set forth positions and recommendations on the following issues:

• Initial margin;
• Portfolio margining;
• Margin thresholds;
• IM schedule; and
• Ongoing review of requirements.

View comment letter here (links externally to MFA website). SIFMA also submitted comments (in today's news). ISDA had previously submitted comments.