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17 December 2024

Opinion on the application of EMIR3 with respect to initial margin models

EBA opinion on EMIR 3’s new authorization regime for initial margin (IM) models used in non-centrally cleared OTC derivatives, clarifying validation requirements for pro forma models like ISDA SIMM and outlining supervisory procedures for credit institutions and investment firms.

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Press Release 17 December 2024

The EBA publishes a no action letter on the application of the European Market Infrastructure Regulation

The European Banking Authority (EBA) today published a no action letter stating that competent authorities (CAs) should not prioritise any supervisory or enforcement action in relation to the processing of applications for initial margin (IM) model authorisation received as a result of the entry into force of EMIR 3. The no action letter, developed in cooperation with the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pensions Authority (EIOPA), applies until key deliverables mandated under EMIR 3 become applicable.

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Opinion on the application of EMIR3 with respect to initial margin models

The EBA publishes a no action letter on the application of the European Market Infrastructure Regulation