Ordinance
|
Art. 46 Collateral
(Art. 49 FinMIA) 1 If predefined thresholds are exceeded, the central counterparty shall call in initial margins and variation margins at least once a day. 2 It shall avoid concentration risks in the collateral and shall ensure that it can have prompt access to the collateral. 3 It shall make provision for procedures by means of which it can review the models and parameters on which its risk management is based, and shall conduct these reviews on a regular basis. 4 If the central counterparty holds its own assets or the collateral and assets of participants with third parties, it shall minimise the associated risks. In particular, it shall hold the collateral and assets with creditworthy financial intermediaries which, insofar as possible, are subject to supervision. |