The recent financial crises in Asia, Russia and Latin America have focussed attention on the effectiveness of the world's 'financial architecture'. The freeing of capital movements and the globalisation of markets have boosted economic growth; but also increased instability and systemic risk....

This is an update of the guidelines originally published in 2012. The new version of the guidelines modifies the original provision on diversification of collateral received by UCITS in the context of efficient portfolio management techniques and over-the-counter financial derivative transactions.