CFTC Delays Initial Margin (IM) Phase Five Compliance for One Year to September 1, 2021 as a Result of COVID-19 | Practical Law
The CFTC adopted an interim final rule amending CFTC uncleared swap margin collection rules for swap dealers (SDs) and major swap participants (MSPs) in accordance with BCBS-IOSCO global initial margin (IM) implementation COVID-19-related timeline revisions. The amendment extends the Phase Five compliance date to September 1, 2021 for swap portfolios that are subject to the rules.