Amendments and supplements to the Financial Collateral Agreements Act
2 June 2011
Amendments and supplements to the Financial Collateral Agreements Act will enter into force on 30 June 2011 in compliance with the provisions of Directive 2009/44/ЕC. One of the main amendments is the introduction of credit claims as eligible collateral in financial collateral arrangements. The introduction of this new and interesting possibility aims to increase the pool of available financial collateral and to guarantee the interests of both collateral takers and collateral providers when it is used in practice.