{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"from:2023-02-14","held_since":"2023-02-14","gaps":[],"covered":["2016/2251 — RTS — Risk-mitigation techniques for OTC derivative contracts [in force] L2"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-20","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/articles/25","url":"https://www.headlesslaw.com/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/articles/25","title":"Article 25 — Minimum transfer amount","family":"l2_unit_view","work_id":"spaces/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts","view_of":"/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-01","applies_from":null,"application":null,"version_label":"Consolidated version of 14 February 2023","check":{"against":"EUR-Lex","on":"2026-10-20"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02016R2251-20230214","valid_from":"2017-01-04","valid_until":null,"content_id":"7ba9f8efa8f142bb","versions":["2017-01-04"],"version_url":"https://www.headlesslaw.com/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/articles/25/versions/2023-02-14","revision_url":"https://www.headlesslaw.com/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/articles/25/versions/2023-02-14/rev/7ba9f8efa8f142bb","versions_url":"https://www.headlesslaw.com/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/articles/25/versions","relations_url":"https://www.headlesslaw.com/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/articles/25/relations","act_url":"https://www.headlesslaw.com/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts#art-25","source_line":"Commission Delegated Regulation (EU) 2016/2251 · binding · OJ L 340, 15.12.2016 · dated 4 Oct 2016 [in force]","attribution":{"prepared_by":"European Commission","published_by":"Publications Office of the EU","published_in":"Official Journal of the European Union","document_type":"delegated_regulation","legal_nature":"binding_adopted","addressees":"not stated in the document","dates":{"document_date":"2016-10-04","entry_into_force":"2017-01-04","locators":{"document_date":"CELLAR 32016R2251 work_date_document","entry_into_force":"CELLAR 32016R2251 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts","path":"/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts","name":"Commission Delegated Regulation (EU) 2016/2251","number":"2016/2251","celex":"32016R2251","title_official":"COMMISSION DELEGATED REGULATION (EU) 2016/2251 of 4 October 2016 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to regulatory technical standards for risk-mitigation techniques for OTC derivative contracts not cleared by a central counterparty (Text with EEA relevance)","document_date":"2016-10-04"},"position":{"kind":"article","key":"25","index":25,"articles":42,"annexes":4},"prev":{"path":"/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/articles/24","key":"24","title":"Article 24 — Non-financial counterparties and third-country counterparties"},"next":{"path":"/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/articles/26","key":"26","title":"Article 26 — Margin calculation with third-country counterparties"},"act_anchor":"#art-25"}},"provenance":{"official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02016R2251-20230214","check":{"result":"matched","checked_at":"2026-10-20","against":"EUR-Lex"},"repo_path":"spaces/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts.md","unit_text_sha256":"94f8d8873c2d75839a702b456089713f0942994ef93bcd4d5758295990dd0339","note":"the unit is a byte-exact part of the act page, whose check record covers it"},"unit":{"locator":"spaces/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/art-25","kind":"article","key":"25","heading":"Article 25 — Minimum transfer amount","text":"## <a id=\"art-25\"></a>Article 25 — Minimum transfer amount\n\n1. <a id=\"art-25-p-1\"></a>By way of derogation from Article 2(2), counterparties may provide in their risk management procedures that no collateral is collected from a counterparty where the amount due from the last collection of collateral is equal to or lower than the amount agreed by the counterparties (‘minimum transfer amount’).\n\n    The minimum transfer amount shall not exceed EUR 500 000 or the equivalent amount in another currency.\n\n2. <a id=\"art-25-p-2\"></a>Where counterparties agree on a minimum transfer amount, the amount of collateral due shall be calculated as the sum of:\n\n    <a id=\"art-25-p-2-a\"></a>**(a)** the variation margin due from its last collection calculated in accordance with Article 10, including any excess collateral;\n\n    <a id=\"art-25-p-2-b\"></a>**(b)** the initial margin due from its last collection calculated in accordance with Article 11, including any excess collateral.\n\n3. <a id=\"art-25-p-3\"></a>Where the amount of collateral due exceeds the minimum transfer amount agreed by the counterparties, the collecting counterparty shall collect the full amount of collateral due without deduction of the minimum transfer amount.\n\n4. <a id=\"art-25-p-4\"></a>Counterparties may agree on separate minimum transfer amounts for initial and variation margins, provided that the sum of those minimum transfer amounts is equal to or lower than EUR 500 000 or the equivalent amount in another currency.\n\n5. <a id=\"art-25-p-5\"></a>Where counterparties agree on separate minimum transfer amounts in accordance with paragraph 4, the collecting counterparty shall collect the full amount of initial or variation margin due without any deduction of those minimum transfer amounts where the amount of initial or variation collateral due exceeds the minimum transfer amount.\n\n","marks":[],"text_hash":"94f8d8873c2d75839a702b456089713f0942994ef93bcd4d5758295990dd0339","revision":1}}