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Article 20 - Treatment of collected initial margins

Article 20
Treatment of collected initial margins

1.The collecting counterparty shall not rehypothecate, repledge nor otherwise reuse the collateral collected as initial margin.

2.Notwithstanding paragraph 1, a third-party holder may use the initial margin received in cash for reinvestment purposes.

Official text · consolidated version 04/01/2017 (no longer in force) Open full page ↗
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