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in their risk management procedures that variation margins are not required to be posted or collected for physically settled foreign exchange forward contracts and physically settled foreign exchange swap contracts where one of the counterparties is not an institution as defined in Article 4(1), point (3), of Regulation (EU) No 575/2013 of the European Parliament and of the Council or would not qualify as such an institution if it were established in the Union.\n\n**CHAPTER III — INTRAGROUP DERIVATIVE CONTRACTS**\n\n**SECTION 1 — Procedures for counterparties competent authorities when applying exemptions for intragroup derivative contracts**\n\n","marks":[],"text_hash":"859e7e3ff1ecfa90e537dec60f4ee06078c631a1c0b55094096adf33b4ebb797","revision":1}}