The FCA has published a statement containing reporting advice for clearing member firms under the European Markets Infrastructure Regulation (EMIR).

The statement explains that the FCA has contacted a number of authorised firms identified as a clearing member and client of a central counterparty (CCP) to advise them that authorised or recognised CCPs under EMIR are required to calculate hypothetical capital information. This information must be supplied by CCPs to their clearing members as well as to the national competent authority of the clearing member.

The FCA has advised its solo-regulated clearing member firms to let their CCPs know that the:

  • FCA is their national competent authority; and
  • the CCP should send the completed template to the FCA at

Firms that are part of a dual-regulated prudential group should note that the PRA is conducting a similar exercise for dual-regulated firms that are clearing members of CCPs.

The reporting templates required for CCPs to use for when they supply the data to clearing members and national competent authorities can be found on the website of the European Banking Authority. The first reporting reference date is 30 June 2014, with submissions due within 15 working days of this date.

View EMIR reporting advice for clearing member firms, 30 June 2014