On 12 December 2025 the Basel Committee on Banking Supervision and the International Organization of Securities Commissions published a joint review of how the uncleared margin requirements framework has been implemented, and the headline for reporting and collateral teams is that nothing in the rulebook moves. The review found no material issues with the framework…
On 6 May 2026 the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) opened a consultation that would rewrite parts of two documents every central counterparty already works to: the 2017 CCP resilience guidance and the 2015 public quantitative disclosure standards. The CPMI-IOSCO initial margin package folds six…
On 3 August 2026 the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority, acting together as the ESAs, sent the European Commission a final report and a set of draft regulatory technical standards that rewrite one paragraph of the EMIR bilateral margin requirements. The paragraph is…
If your firm uses ISDA SIMM to calculate initial margin on non-centrally cleared OTC derivatives, you have operated for years without needing formal supervisory approval for that model. That changes under EMIR 3. For the first time, every counterparty using an IM model must obtain prior authorisation from its competent authority. If the model is…