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Recital 15

Recital 15

(15)The requirements in the CFTC Regulations on eligible collateral and on how that collateral is held and segregated are equivalent to those set out in Article 4 of Delegated Regulation (EU) 2016/2251. The CFTC Regulations contain an equivalent list of eligible collateral, and the preamble to the final margin rule states that swap dealers and major swap participants that are not subject to a prudential regulator should take collateral concentration into account. The CFTC requirements on margins for OTC derivative contracts not cleared by a CCP should therefore be considered equivalent to those provided for under Article 11(3) of Regulation (EU) No 648/2012.

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