Isda calls for delay to India IM
Rules for third-party custodians still to be finalised less than one month before initial margin rules go live
The International Swaps and Derivatives Association has called on the Reserve Bank of India to postpone the impending deadline for Indian in-scope entities to begin posting initial margin for non-cleared derivatives, citing unresolved challenges around custodial arrangements.
The RBI’s framework for initial margin, published in May, is set to come into force on November 8. However, with less than a month to go before the deadline, the market is still waiting on the central bank to publish a
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