Preamble
Recitals 96
Title I - SUBJECT MATTER AND DEFINITIONS (Article 1-2) 2
Title II - AUTHORITIES, RESOLUTION COLLEGE AND PROCEDURES (Article 3-8) 6
Title III - PREPARATION (Article 9-17) 9
Title IV - EARLY INTERVENTION (Article 18-20) 3
Title V - RESOLUTION (Article 21-75) 55
Title VI - RELATIONS WITH THIRD COUNTRIES (Article 76-80) 5
Title VII - ADMINISTRATIVE MEASURES AND PENALTIES (Article 81-85) 5
Title VIII - AMENDMENTS TO REGULATIONS (EU) No 1095/2010, (EU) No 648/2012, (EU) No 600/2014, (EU) No 806/2014 AND (EU) 2015/2365 AND DIRECTIVES 2002/47/EC, 2004/25/EC, 2007/36/EC, 2014/59/EU AND (EU) 2017/1132 (Article 86-95) 10
Title IX - FINAL PROVISIONS (Article 96-97) 2
Annexes 1
- Annex 1

initial margin

Definitions over time (1)

04/07/2020 – today applies on 11/11/2026 Article 2, Regulation (EU) 2021/23 Scope: Whole act

For the purposes of this Regulation the following definitions apply:

‘initial margin’ means margins collected by the CCP to cover potential future exposure to clearing members providing the margin and, where relevant, interoperable CCPs in the interval between the last margin collection and the liquidation of positions following a default of a clearing member or of an interoperable CCP;