BANK 3.4.14 Cross-product netting not permitted

Cross-product netting (that is, netting between derivatives and securities financing contracts) is not permitted. If a banking business firm is a party to a cross-product netting agreement that otherwise meets the criteria for an eligible bilateral netting agreement, the firm may perform netting separately in each product category if all the other conditions for netting in the category are met.

Inserted by QFCRA RM/2019-6 (as from 1st January 2020).