ESMA publishes Guidelines to harmonise CCP supervisory reviews and evaluation under EMIR
Published By Europa [English], Wed, Feb 24, 2021 5:11 AM
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published the final report on Guidelines aimed at assisting competent authorities in the application of EMIR provisions that deal with the review and evaluation of central counterparties (CCPs).
The guidelines address common procedures and methodologies for the review of arrangements, strategies, processes and mechanisms implemented by CCPs. This includes the evaluation of risks, covering requirements for CCPs to address financial, organisational, operational, and prudential risks as laid down in EMIR.
The objective of these guidelines is to ensure consistency in format, frequency, and depth of CCP supervisory reviews and evaluation processes.
In particular, they cover review and evaluation of:
capital requirements
organisational requirements
business continuity
conduct of business
prudential requirements, and
interoperability arrangements
Next steps
The Guidelines will be translated in the official EU languages and published on ESMA’s website. The publication of the translations will trigger a two-month period during which national competent authorities must notify ESMA whether they comply or intend to comply with the Guidelines.
Further information:
Sarah Edwards
Communications Officer
✆ +33 (1)58 36 64 23
@ press@esma.europa.eu
Press release distributed by Media Pigeon on behalf of Europa, on Feb 24, 2021. For more information subscribe and follow