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🔗 Back to Summary. 🇫🇷 French Version: 2016R2251_FR.20. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 19 – Collateral management and segregation ⬅️ | ➡️ Article 21 – Calculation of the adjusted value of collateral
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.