On 3 December 2018, the European Council published a press release announcing that EU Member States had reached a compromise position on the proposed amendments to the European Market Infrastructure Regulation (EMIR) on how EU and third country central counterparties (CCPs) should be supervised, taking particular account of the effects of Brexit on the European financial system. The proposed amendments were first published in June 2017, and aim to strengthen the supervision of CCPs in appreciation of the growing size, complexity and cross-border dimension of clearing in Europe.
EU ambassadors have endorsed the Council’s negotiating mandate for future talks with the European Parliament on the revision of EMIR as well as a decision revising the statute of the European system of central banks and the European Central Bank. The Council requests the presidency to start trilogue negotiations. The Council stance on the proposed regulation to amend EMIR has also been published.