On 24 March 2023, the European Securities and Markets Authority (ESMA) published Guidelines on central counterparty (CCP) recovery plan scenarios.

These Guidelines are based on Article 9(12) of the Regulation on a framework for the recovery and resolution of CCPs (CCPRRRR). The objectives of these Guidelines are to establish consistent, efficient and effective supervisory practices with the European System of Financial Supervision (ESFS) and to ensure the common, uniform and consistent application of Article 9(1) of CCPRRRR. They aim at specifying the range of recovery plan scenarios to be considered by CCPs when drawing up and maintaining their recovery plans and by Member State competent authorities when assessing those recovery plans.

The Guidelines apply from two months after the date of publication on ESMA’s website in the official languages of the European Union.