The Financial Stability Board (FSB) announced adjustments to the implementation timelines for its recommendations on minimum haircut standards for non-centrally cleared securities financing transactions (SFTs). As their implementation has seen significant delays in some jurisdictions, stemming mainly from the new date of January 2022 for its implementation into banking regulation as part of the Basel III framework, the FSB has decided to adjust the implementation timelines for its recommendations  including those related to quantitative standards, i.e. the framework of numerical haircut floors which will be extended to January 2022 (instead of end-2018) for bank-to-non-bank transactions and to January 2024 (instead of end-2019) for non-bank-to-non-bank transactions. The implementation timelines for other recommendations remain unchanged.

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