On 12 July 2021, the European Securities and Markets Authority (ESMA) issued seven public consultation papers intended to gather feedback on how to implement its central counterparty (CCP) recovery mandates.

The seven consultation papers contain, among others, proposals for draft regulatory technical standards (RTS) on the methodology for calculation and maintenance of the additional amount of pre-funded dedicated own resources, guidelines on the consistent application of the triggers for the use of early intervention measures as well as guidelines on CCP recovery plan indicators and scenarios.

The consultation papers are:

The closing date for responding to the consultation papers is 20 September 2021.

ESMA will organise an open hearing on the consultation papers on 14 September 2021 (registrations will open in August).

ESMA will consider the responses to the consultation papers with a view to publishing the final reports by Q4 2021/Q1 2022.