Initial margin meaning

In this issue: Competition and state aid Corporate Data protection and cybersecurity Free movement, employment and immigration Financial services Insurance and reinsurance IP Life sciences Regulatory TMT International trade Daily and weekly news alerts New and updated content Trackers and horizon scanners Competition and state aid State aid—Commission reviews State aid rules for banks in difficulty The European Commission has launched a call for evidence to update the State aid regime for banks in difficulty. The current framework consists of six distinct communications, last revised in 2013. See News Analysis: EU Competition law—daily round-up (17/03/2026). State aid—Commission adopts new State aid rules to boost the use of more sustainable ways of transport The Commission has approved new State aid Land and Multimodal Transport Guidelines (LMT Guidelines) and a Transport Block Exemption Regulation (TBER), refreshing the EU State aid framework to encourage more sustainable passenger and freight transport,...

In this issue: Lending Security Real estate finance Sustainable finance Debt capital markets Derivatives Regulation for derivatives lawyers Regulation for banking lawyers Sanctions Daily and weekly news alerts New and updated content Useful information Lending Cabinet Office publishes its reply to the consultation on the National Security and Investment Act 2021 (Notifiable Acquisition) (Specification of Qualifying Entities) Regulations 2021, SI 2021/1264. The paper collates stakeholder feedback from the consultation and details the government’s planned amendments to each schedule of the Notifiable Acquisition Regulations. It also focuses on suggested changes to the National Security and Investment Act 2021 (NSIA 2021). See LNB News 12/03/2026 56; source: Consultation on the NSI Act Notifiable Acquisition Regulations... Security Companies House reports resolution of a WebFiling security incident identified on 13 March 2026, which may have enabled signed-in users to view and alter parts of other companies’ information without permission. The service was taken offline...

In this issue: UK, EU and international regulators and bodies Authorisation, approval and supervision Prudential requirements Operational resilience Financial crime and sanctions Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of capital markets Regulation of derivatives Sustainable finance and ESG Banks and mutuals Investment funds and asset management Consumer credit, mortgage and home finance Regulation of insurance Payment services and systems Fintech and cryptoassets Dates for your diary New and updated content Financial Services Enforcement Database Daily and weekly news alerts LexTalk®Financial Services: a Lexis®Nexis community UK, EU and international regulators and bodies FCA report examines firms’ methods for promoting consumer understanding. The Financial Conduct Authority has released findings from its review of how firms deliver the consumer understanding outcome under the Consumer Duty. It highlights effective practices and practical actions to enhance communications and align with Duty expectations. To improve...

What is repo? A repo, the market shorthand for a 'repurchase transaction', is an arrangement whereby one party (the seller) sells an asset to another (the buyer) with a simultaneous contractual undertaking that the seller will repurchase the asset from the buyer on a future date for a specified price agreed between both parties in advance. Any asset capable of being transferred from one person to another may, in principle, be the subject of a repo transaction. The assets most commonly used in repos are debt securities (bonds), equity securities (shares) and other financial assets, including loans and commodities. However, commodity repos can raise distinctive documentary, structural and legal issues, which are not addressed in this Practice Note. For guidance on commodity repos, see Practice Note: Commodity repo transactions and true sale considerations...

This Practice Note deals with the exempt period exemption from a charge under the controlled foreign company (CFC) rules. A company may fall within the CFC regime for an accounting period, but a CFC tax charge only arises where: the CFC has chargeable profits that pass the gateways, and none of the exemptions under the CFC rules apply There are two forms of exemption: Entity level exemptions — these remove the CFC from the CFC rules entirely for that accounting period. The relevant exemptions are: the exempt period exemption, which is explained in this Practice Note the excluded territories exemption the low profits exemption the low profit margin exemption the tax exemption Finance profit exemptions — these exclude some or all of the profits from certain financing activities from the CFC rules The exemptions aim to ease compliance for businesses where...

What does this Practice note cover? This Practice Note addresses the 1995 ISDA Credit Support Deed (Security Interest—English law), the standard-form credit support document for derivatives issued by the International Swaps and Derivatives Association, Inc. (ISDA). Commonly referred to as the English law CSD or simply the English law deed, it is the focus here. This Practice Note outlines the layout and principal characteristics of the English law deed. Documentation structure of the English law Deed The English law Deed: a standalone document The English law Deed operates as an independent instrument. It is not incorporated into the schedule to the master agreement and has to be executed in its own capacity as a deed. It must bear the date on which it is executed, and all formalities relevant to the execution of a deed must be observed (for additional detail, see Practice Note: Executing deeds and simple contracts). It constitutes a credit support document (as that term is used in the ISDA master agreement). The...