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10 Minutes with Geoff Rooney CFTP
Geoff Rooney CFTP
Senior Manager Financial Services,
Please tell us a bit about yourself
I am a Senior Manager in EY’s Financial Services Office based in Sydney. My role focuses on advising and providing assurance to financial institutions and corporate treasury departments. I love treasury, finance, capital markets and the broader financial services and wealth management industry.
I am a Chartered Accountant, Member of the FTA, AMCT and Association of Corporate Treasurers, UK. I am a degree qualified RG146 compliant financial planner, so I would say I am not afraid of some additional study.
Discussion Paper CPS226 “Margining and risk mitigation for non-centrally cleared derivatives”
What are the facts?
APRA recently released regulation Discussion Paper CPS226 “Margining and risk mitigation for non-centrally cleared derivatives”.
- The regulations require margin to be posted/collected from counterparties in the form of variation margin (current exposures), and initial margin (potential future exposure) associated with the portfolio of non-centrally cleared derivatives (NCCD’s).
- The regulations primarily apply to Financial Institutions and Systematically important non-financial institutions where it is believed that OTC derivatives trading is taking place other than for hedging purposes, and therefore more open to risk.