Consultation opens
30/04/2024
Consultation closed
30/05/2024
Policy Statement
31/10/2024
31/10/2024
PS24/13: Joint PRA and FCA Consequential Amendments to BTS 2016/2251
We set out finalised changes to the UK EMIR bilateral margin requirements with the Prudential Regulation Authority (PRA).
Read PS17/24 - Responses to CP6/24: OCP policy statement
Why are we doing this
We’re making consequential amendments to the Binding Technical Standards (BTS) 2016/2251 jointly with the PRA.
The amendments are necessary to reflect the expected changes to the UK version of the European Market Infrastructure Regulation (UK EMIR) that will be made in the Securitisation (Amendment) Regulations 2024.
Who is this for
The publication is relevant to PRA-authorised banks, building societies and PRA-designated investment firms in scope of the margin requirements under UK EMIR.
It is also relevant to all FCA solo-regulated entities and non-financial counterparties in scope of the margin requirements under UK EMIR.
Next steps
The amendments will come into force on 1 November 2024 to align with the changes to UK EMIR.
: Information changed Consultation closed