ESMA · ESMA_QA_1143 Answer Published
KIID Collateral management EPM OTC EMIR
- Regulation
- Undertakings for Collective Investment in Transferable Securities Directive (UCITS) Directive 2009/65/EC
- Topic
- UCITS eligible assets and investment restrictions
- Submitted
- 2016-10-01
- Answered
- 2016-10-01
Question
Can cash collateral received by UCITS in the context of EPM techniques or OTC financial derivative transactions be used by UCITS for clearing obligations under EMIR?
Answer
[ESMA 34-43-392 UCITS Q&A, section 3, Q&A 6j] No. Cash collateral received by UCITS can only be placed or invested in the assets listed in paragraph 43(j) of the guidelines.
This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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