Contents
Article 20Treatment of collected initial margins#
1.The collecting counterparty shall not rehypothecate, repledge nor otherwise reuse the collateral collected as initial margin.
2.Notwithstanding paragraph 1, a third-party holder may use the initial margin received in cash for reinvestment purposes.
Source: EUR-Lex, © European Union, 1998-2026. Reuse authorised under Decision 2011/833/EU.