ASIC: How do I report collateralisation?
Q: Information that is required to be reported under Rule 2.2.1 (Reporting) includes requirements to report a notation to indicate:
- whether the reportable transaction is collateralised by one or both counterparties to the reportable transaction under item 40 in Table S2.1(1) in Schedule 2 (Reporting), and
- whether the reportable position is collateralised by one or both counterparties to the reportable transaction under item 27 in Table S2.2(1) in Schedule 2 (Reporting).
Differences exist between what is required in the equivalent collateralisation field for entities that are required to report in accordance with European Union Regulation No 148/2013 (EMIR) and associated Level 1 Validation Rules published by European Securities and Markets Authority (jointly ESMA OTC reporting regime) and entities that are required to report in accordance with Part 43 of the Commodity Exchange Act 1936 (US) (CFTC OTC reporting regime).
Is it acceptable to report values in the collateralisation fields that are in accordance with the ESMA OTC reporting regime or the CFTC OTC reporting regime?
A: The derivative transaction rules (reporting) do not specify in detail what needs to be reported in the collateralisation field. Consequently, ASIC will accept values in the collateralisation field that are either in accordance with the ESMA OTC reporting regime or the CFTC OTC reporting regime.
(Published 23 November 2015)