On 2 June 2023, the European Securities and Markets Authority (ESMA) published guidelines on the methodology to be used by the resolution authority for determining the valuation of contracts prior to their termination as referred to in Article 29(1) of the Regulation on a framework for the recovery and resolution of central counterparties. The guidelines will apply from two months after the date of publication on ESMA’s website in the official languages of the European Union.