Regulations issued by the FRB, the FDIC and the OCC (‘US Stay Regulations’) require US global systemically important banks (‘GSIBs’) and US branches and subsidiaries of foreign GSIBs to amend certain qualified financial contracts (‘QFCs’) with their clients, regardless of the jurisdiction of the clients. As a result, this regulatory requirement will impact on any South African entity that has, for example, an ISDA, GMRA or GMSLA with a US GSIB. What is the purpose of the US S

As we launch ourselves into the second half of 2019, here’s a snapshot of what we can expect in the derivatives market: US Resolution Stay regulations will apply to financial institutions dealing with US GSIBs from 1 July 2019 Phase 4 IM implementation in September 2019 under EMIR and Dodd Frank, and (hopefully ...) A finalisation of the South African margin rules with a possible 1 September 2019 phase-in for Variation Margin for the largest market players. There’s a lot happ