On 28 April 2021, the European Commission published for consultation a draft Implementing Regulation that would extend by 12 months (until 28 June 2022) the transitional periods during which institutions can treat exposures to a third-country central counterparty (CCP) that has not been recognised in accordance with the European Market Infrastructure Regulation as if they were exposures to a recognised CCP. The extension would enable the Commission to finalise its assessments of CCPs equivalence and institutions to properly prepare for the end of the current transitional periods.

The deadline for responses to the consultation is 26 May 2021.