Counterparties, with the exception of small non-financial counterparties, shall exchange appropriate collateral.
They must be capable of segregating the collateral from their own assets in an appropriate manner.
Agreements regarding the direct realisation of collateral exchanged in accordance with paragraph 1 whose value can be determined objectively shall remain in force even in foreclosure proceedings and in the case of insolvency measures against the protection seller.
The Federal Council shall regulate the requirements for the exchange of collateral.
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