Chapter I, Section 1, Article 3 · Commission Delegated Regulation (EU) 2016/2251

Contents

The exchange of collateral agreement referred to in point (g) of the first subparagraph of Article 2(2) shall include at least the following terms:

(a)the levels and type of collateral required;

(b)the segregation arrangements;

(c)the netting set to which the exchange of collateral refers;

(d)the procedures for notification, confirmation and adjustment of margin calls;

(e)the procedures for settlement of margin calls for each type of eligible collateral;

(f)the procedures, methods, timeframes and allocation of responsibilities for the calculation of margins and the valuation of collateral;

(g)the events that are considered to be default or termination events;

(h)the law applicable to the non-centrally cleared OTC derivative contract;

(i)the law applicable to the exchange of collateral agreement.