Art. 106 Cross-border transactions
(Art. 94 para. 2 and 107 FinMIA) 1 The duty to exchange collateral in the case of cross-border transactions shall also apply, subject to the exemption envisaged in paragraphs 2, 2bis and 2ter, if the foreign counterparty of the Swiss counterparty which has the duty to exchange collateral would also be subject to this duty if it had its registered office in Switzerland.42 2 No collateral has to be exchanged if the foreign counterparty:
2bis The Swiss counterparty may dispense with the payment of initial margins and variation margins to the foreign counterparty if an independent legal review showed that:
2ter It can dispense with requiring the foreign counterparty to pay initial margins and variation margins if the conditions under paragraph 2bis letter a or b are met and:
3 The other risk mitigation duties that would require the involvement of the counterparty may be fulfilled unilaterally insofar as this corresponds to recognised international standards. 42 Amended by No I of the O of 5 July 2017, in force since 1 Aug. 2017 (AS 2017 3715). 43 Inserted by No I of the O of 5 July 2017, in force since 1 Aug. 2017 (AS 2017 3715). 44 Inserted by No I of the O of 5 July 2017, in force since 1 Aug. 2017 (AS 2017 3715). |