China margin negotiations wait on new collateral document
With 2026 deadline looming, banks await key Nafmii document to begin contract negotiations
With just 10 months until China’s variation margin rules for non-cleared derivatives take effect, banks have not yet started work on negotiating new collateral agreements as they await publication of revised derivatives documentation.
China will require its banks and insurance firms to post variation margin on new non-cleared derivatives trades beginning September 1, 2026. To reflect the new margin
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