# 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), Article 3: Exchange of collateral agreement

Extent: E+W+S+N.I.

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:
(a) the levels and type of collateral required;
(b) the segregation arrangements;
(c) the netting set to which the exchange of collateral refers;
(d) the procedures for notification, confirmation and adjustment of margin calls;
(e) the procedures for settlement of margin calls for each type of eligible collateral;
(f) the procedures, methods, timeframes and allocation of responsibilities for the calculation of margins and the valuation of collateral;
(g) the events that are considered to be default or termination events;
(h) the law applicable to the non-centrally cleared OTC derivative contract;
(i) the law applicable to the exchange of collateral agreement.

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Source: https://www.legislation.gov.uk/eur/2016/2251/article/3 (the official version)
Page: https://openlegislation.uk/eu-regulation-2016-2251/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.