A large number of financial institutions in Asia-Pacific are expected to be brought into scope of phases five and six of the initial margin (IM) requirements for non-cleared derivatives in September 2021 and September 2022. As part of their preparations, market participants will need to know which high-quality liquid assets they can post as IM and understand any regulatory or legal impediments that may affect their choice.

To help with that analysis, the China Central Depository & Clearing Co., Ltd. and ISDA have developed a whitepaper that analyzes the issues relating to use of Chinese government bonds as initial margin.

Click on the PDF below to read the paper in full.