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Recital 13

Recital 13

(13)The Policy Manual provides for a combined minimum transfer amount of initial and variation margin of HKD 3,75 million, whereas Article 25 of Delegated Regulation (EU) 2016/2251 provides for an amount of EUR 500 000. Taking into account the marginal difference in the value of those amounts and the common objective of the Policy Manual and Delegated Regulation (EU) 2016/2251, those amounts should be considered equivalent.

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