The European Commission (Commission) has published a draft version of the Commission Implementing Regulation (EU) No…/… of XXX on the extension of the transitional periods related to own funds requirements for exposures to central counterparties (CCPs) set out in the Capital Requirements Regulation and the European Market Infrastructure Regulation.
The draft Implementing Regulation extends the transitional period by an additional 6 months to 15 June 2018. This is to avoid disruption to international financial markets and prevent penalising institutions by subjecting them to higher own funds requirements during the process of authorisation and recognition of existing CCPs. The Commission’s website notes that the deadline for comments on the draft Implementing Regulation is 21 November 2017.
View Commission Implementing Regulation (EU) No…/… of XXX on the extension of the transitional periods related to own funds requirements for exposures to central counterparties set out in Regulations (EU) No 575/2013 and (EU) No 648/2012 of the European Parliament and of the Council, 24 October 2017