The Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions have published for consultation proposed amendments to resilience guidance and public quantitative disclosure standards for central counterparties (CCPs). The package would incorporate relevant elements of the January 2025 BCBS-CPMI-IOSCO report on transparency and responsiveness of initial margin in centrally cleared markets through targeted updates to the 2017 CCP resilience guidance and the 2015 disclosure standards. The proposed amendments address simulation tools, measurement of initial margin responsiveness, governance frameworks for margin models, the use of margin model overrides, and CCP public disclosures. CPMI and IOSCO consider targeted additions to the CCP resilience guidance and public quantitative disclosures to be the appropriate route for implementing the relevant proposals, and comments are invited until 30 June 2026.
Bank for International Settlements 2026-05-06
Committee on Payments and Market Infrastructures and International Organization of Securities Commissions launch consultation on CCP resilience and disclosure amendments for initial margin
The Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions have issued for consultation proposed amendments to resilience guidance and public quantitative disclosure standards for central counterparties. The targeted updates would incorporate elements of the January 2025 BCBS-CPMI-IOSCO report on transparency and responsiveness of initial margin, including changes on simulation tools, measurement of initial margin responsiveness, governance of margin models, use of model overrides, and related CCP disclosures.