{
  "url": "https://openlegislation.uk/eu-regulation-2016-2251/article-3",
  "json_url": "https://openlegislation.uk/eu-regulation-2016-2251/article-3.json",
  "legislation": "eur/2016/2251",
  "legislation_title": "Commission Delegated Regulation (EU) 2016/2251 of 4 October 2016 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to regulatory technical standards for risk-mitigation techniques for OTC derivative contracts not cleared by a central counterparty (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2016-2251",
  "path": "article/3",
  "kind": "article",
  "number": "3",
  "heading": "Exchange of collateral agreement",
  "text": "The exchange of collateral agreement referred to in point (g) of the first subparagraph of Article 2(2) shall include at least the following terms:\n(a) the levels and type of collateral required;\n(b) the segregation arrangements;\n(c) the netting set to which the exchange of collateral refers;\n(d) the procedures for notification, confirmation and adjustment of margin calls;\n(e) the procedures for settlement of margin calls for each type of eligible collateral;\n(f) the procedures, methods, timeframes and allocation of responsibilities for the calculation of margins and the valuation of collateral;\n(g) the events that are considered to be default or termination events;\n(h) the law applicable to the non-centrally cleared OTC derivative contract;\n(i) the law applicable to the exchange of collateral agreement.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2016/2251/article/3",
    "retrieved_at": "2026-11-01T14:45:18.172261+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}