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  1. Point in time
    2024-12-18

Article 20 Treatment of collected initial margins

  1. (1)

    The collecting counterparty shall not rehypothecate, repledge nor otherwise reuse the collateral collected as initial margin.

  2. (2)

    Notwithstanding paragraph 1, a third-party holder may use the initial margin received in cash for reinvestment purposes.