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Pursuant to Regulation (EU) No 648/2012 (“EMIR”), counterparties are generally obliged to provide collateral for non-cleared OTC-derivatives. Allianz SE and its subsidiaries referred to at the bottom of this page have been granted exemptions from this obligation in accordance with Art. 11 para. 3 EMIR with respect to intra-group transactions. According to Art. 11 para. 14 EMIR, Art. 20 Delegated Regulation (EU) 149/2013, the following details on the exemptions obtained have to be published.
This this publication relates to intra-group transactions between:
on one hand, and the subsidiaries listed below (each a “counterparty” and together, the “counterparties") on the other hand.
The counterparties are consolidated subsidiaries of Allianz SE and are therefore part of Allianz Group. Further details on the group structure and the relationships between the counterparties and Allianz SE are disclosed in the Annual Report.
The exemption of intra-group transactions from the margining requirements pursuant to Art.11 (3) EMIR covers all intra-group derivative transactions and includes the exchange of the variation margin as well as the exchange of the initial margin.
The exception for intra-group transactions from the margining obligation covers all OTC derivatives between Allianz SE on one hand and the counterparties on the other hand. In the list below, the planned volumes of the transactions have been indicated. Please note that this is an estimate of the future notional per year and that the actual notional may differ.
As of February 15, 2018