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CSA NI 94-101 Mandatory Central Counterparty Clearing of Derivatives
Letter Summary:
The proposed amendments describe the circumstances and thresholds for mandatory counterparty clearing of derivatives. Notably, overnight index swaps and forward rate agreements are excluded from mandatory clearing (as recommended in our previous comment letter).
Overview of the Council’s Comments:
The council is supportive of these pragmatic changes that will harmonize the requirement for the central clearing of OTC derivatives in Canada with that of regulated clearing agencies in other jurisdictions.