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🔗 Back to Summary. 🇫🇷 French Version: 2016R2251_FR.31 bis. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 31 – Treatment of derivatives with counterparties in third countries where legal enforceability of netting agreements or collateral protection cannot be ensured ⬅️ | ➡️ Article 32 – Procedures for counterparties and relevant competent authorities
Article 31a - Treatment of physically settled foreign exchange forwards and physically settled foreign exchange swaps
By way of derogation from Article 2(2), counterparties may provide in their risk management procedures that variation margins are not required to be posted or collected for physically settled foreign exchange forward contracts and physically settled foreign exchange swap contracts where one of the counterparties is not an institution as defined in Article 4(1), point (3), of Regulation (EU) No 575/2013 of the European Parliament and of the Council or would not qualify as such an institution if it were established in the Union.