Non-financial counterparty: Difference between revisions
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{{a|emir|}}An [[NFC]] is that fellow who is not, in [[ESMA]]’s eyes, a [[financial counterparty]]. Relevant for determining [[Clearing thresholds - EMIR|clearing thresholds]] (and by extension [[variation margin]] thresholds) whereupon you must inspect your [[NFC]]’s bona fides to determine whether it is an [[NFC+]] or an [[NFC-]] (the latter being he who is not, in [[ESMA]]’s eyes, an [[NFC+]]. | {{a|emir|}}An [[NFC]] is that fellow who is not, in [[ESMA]]’s eyes, a [[financial counterparty]]. Relevant for determining [[Clearing thresholds - EMIR|clearing thresholds]] (and by extension [[variation margin]] thresholds) whereupon you must inspect your [[NFC]]’s bona fides to determine whether it is an [[NFC+]] or an [[NFC-]] (the latter being he who is not, in [[ESMA]]’s eyes, an [[NFC+]]. | ||
Anyone else ''is'' a financial counterparty, and doesn’t get to enjoy the wobbling and subjective edifice of | Anyone else ''is'' a [[financial counterparty]], and doesn’t get to enjoy the wobbling and subjective edifice of the get-out-of-EMIR-jail-cards that are the [[EMIR clearing thresholds]]. | ||
Revision as of 09:10, 30 August 2022
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An NFC is that fellow who is not, in ESMA’s eyes, a financial counterparty. Relevant for determining clearing thresholds (and by extension variation margin thresholds) whereupon you must inspect your NFC’s bona fides to determine whether it is an NFC+ or an NFC- (the latter being he who is not, in ESMA’s eyes, an NFC+.
Anyone else is a financial counterparty, and doesn’t get to enjoy the wobbling and subjective edifice of the get-out-of-EMIR-jail-cards that are the EMIR clearing thresholds.