Europejski Urząd Nadzoru Giełd i Papierów Wartościowych (European Securities and Markets Authority - ESMA), Wytyczne w sprawie spójnego stosowania czynników uruchamiających stosowanie środków wczesnej interwencji (art. 18 ust. 8 CCPRRR)

31 January 2022

ESMA91-372-1700

Final Report

Guidelines on the consistent application of the triggers for the use of Early Intervention Measures (Article 18(8) of CCPRRR)

Executive Summary

Reasons for publication

These Guidelines, developed in accordance with Article 16 of Regulation (EU) No 1095/2010 (‘ESMA Regulation’) pursuant to Article 18(8) of Regulation (EU) 2021/23 of the European Parliament and of the Council of 16 December 2020 on a framework for the recovery and resolution of central counterparties (‘CCPRRR’)1 , are addressed to competent authorities and aim at promoting the consistent application of triggers for the decision on the application of early intervention measures set out in Article 18(1) of CCPRRR.

Article 18(1) of CCPRRR lists the triggers which allow the competent authority to take early intervention measures i.e. where (i) a CCP infringes, or is likely to infringe in the near future, the capital and prudential requirements of Regulation(EU) No 648/2012, (ii) the CCP...