EC is consulting on a draft Implementing Regulation on the extension of the transitional periods on own funds requirements for exposures to central counterparties (CCPs). These transitional periods are set out in the Capital Requirements Regulation (CRR; Regulation (EU) No 575/2013) and the European Markets Infrastructure Regulation (EMIR; Regulation (EU) No 648/2012). The deadline for comments is November 21, 2017.
The 15-month periods referred to in Article 497(2) of CRR and in the second subparagraph of Article 89(5a) of EMIR, as most recently extended in Implementing Regulation (EU) 2017/954, are extended by an additional six months until June 15, 2018. This regulation shall enter into force on the third day following that of its publication in the Official Journal of the European Union. The regulation shall be directly applicable in all member states.
Comment Due Date: November 21, 2017
Keywords: Europe, EU, Securities, Transitional Period, Own Funds Requirement, CCP Exposures, CRR, EMIR, EC
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