2026-02-25
ESMA issues final technical standards amending Delegated Regulation 149/2013 to implement the new clearing thresholds regime introduced by EMIR 3. The document calibrates specific uncleared and aggregate position thresholds for financial and non-financial counterparties across five asset classes to maintain market coverage while reducing regulatory burden. It also establishes criteria for hedging exemptions and defines mechanisms triggering periodic reviews of these thresholds.