Europejski Urząd Nadzoru Giełd i Papierów Wartościowych (European Securities and Markets Authority - ESMA), Wytyczne dotyczące scenariuszy planu naprawy CCP (art. 9 ust. 12 CCPRRR)

31 January 2022

ESMA91-372-1701

Final Report

Guidelines on CCP recovery plan scenarios (Article 9(12) of CCPRRR)

1 Executive Summary

Reasons for publication

Article 9(1) of Regulation (EU) 2021/23 (‘CCPRRR’) sets out an obligation for central counterparties (CCPs) to draw up and maintain a recovery plan providing for measures to be taken in the case of both default and non-default events and combinations of both, in order to restore their financial soundness, without any extraordinary public financial support, and allow them to continue to provide critical functions following a significant deterioration of their financial situation or a risk of breaching their capital and prudential requirements under Regulation (EU) No 648/2012 (‘EMIR’).

Article 10(2) of CCPRRR then sets out an obligation for the CCP’s competent authority to review the recovery plan and assess the extent to which it satisfies the requirements set out in Article 9 of CCPRRR, in coordination with the supervisory college in...