On 6 November 2024, the Council of the EU published the text of the draft Directive amending Directives 2009/65/EC, 2013/36/EU and 2019/2034 as regards the treatment of concentration risk arising from exposures towards central counterparties and of counterparty risk in centrally cleared derivative transactions. The proposed amendments to Directives 2009/65/EC, 2013/36/EU and 2019/2034 are intended to encourage institutions and investment firms to take the necessary steps to adapt their business models to ensure consistency with the new requirements for clearing introduced by a new Regulation which amends the European Markets Infrastructure Regulation. The Council is to adopt the draft Directive which will then enter into force 20 days after its publication in the Official Journal of the EU. Member States will then have 18 months from the date of entry into force to transpose it.