Emir 3.0 threatens lag for Simm revisions
New EU rules could stall changes aimed at improving risk sensitivity of industry margin models
Users of the International Swaps and Derivatives Association’s standard initial margin model (Simm) for non-cleared derivatives may be left with outdated and less risk-sensitive calculations, as new European Union rules intended to streamline margin model updates could delay the approval process by up to three months.
The recently finalised update to the European Market Infrastructure Regulation (Emir 3.0) requires the European Banking Authority (EBA) and national competent authorities (NCAs) to
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