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APRA releases final requirements for margining and risk mitigation for non-centrally cleared derivatives

Sunday 16 October 2016



The Australian Prudential Regulation Authority (APRA) has released the final version of Prudential Standard CPS 226 Margining and risk mitigation for non-centrally cleared derivatives (CPS 226) and a response to submissions paper addressing issues raised in the February 2016 consultation.

As announced on 22 August 2016, APRA has not set a commencement date at this time. APRA has released CPS 226 in order to provide clarity on the final requirements and to allow APRA regulated institutions with material levels of non-centrally cleared derivatives to actively continue their preparations.

APRA will advise an implementation date and phase-in timetable in due course. APRA continues to support internationally harmonised implementation of the requirements and is monitoring the progress of implementation in other jurisdictions.

APRA has carefully considered the submissions received during its consultation period and has reviewed the proposed framework to ensure it appropriately balances the objectives of financial safety and efficiency, competition, contestability and competitive neutrality.

APRA’s full response to submissions and the final CPS 226 can be found on the APRA website.


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The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $7.7 trillion in assets for Australian depositors, policyholders and superannuation fund members.