Regulatory Alerts2023-06-01
Added · Updated
Guidelines on the application of the circumstances under which a central counterparty is deemed to be failing or likely to fail
Competent authorities and resolution authorities must apply these guidelines to determine whether a central counterparty is failing or likely to fail under Article 22 of the CCP Recovery and Resolution Regulation. The document specifies objective elements for assessing a central counterparty's ability to restore viability, pay debts, maintain liquidity, ensure operational capacity, and meet continuing authorization requirements. Authorities are required to notify ESMA within two months of publication regarding their compliance status and must incorporate the guidelines into their national frameworks. The guidelines become applicable two months after their publication on ESMA’s website in all official EU languages.
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