Regulatory Alerts2023-03-24
Added · Updated
Guidelines on CCP recovery plan indicators (Article 9(5) CCPRRR)
Competent authorities and CCPs authorised under Article 14 of EMIR must incorporate these guidelines into their national frameworks and ensure CCPs comply with the specified requirements for recovery plan indicators. CCPs are required to include qualitative and quantitative indicators categorized as early warnings, triggers for the recovery phase, or signals for specific measures, linking each scenario to at least one indicator from the first two categories. The guidelines mandate that indicators do not trigger automatic responses, require integration with monitoring systems covering all relevant risks, and necessitate annual reviews aligned with recovery plan updates. Competent authorities must notify ESMA of their compliance status within two months of publication, while CCPs must report their compliance to their respective authorities.
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