On June 8, 2016, a Commission Implementing Regulation on the extension of the transitional periods related to own funds requirements for exposures to central counterparties set out in the CRR and EMIR was published in the Official Journal of the European Union. The authorization process for existing CCPs established in the European Union is on-going but will not be completed by the June 15, 2016 deadline.
There are still two CCPs established in the Union that await authorization. The implementing Regulation extends the transitional period by an additional six months to December 15, 2016.
The implementing Regulation entered into force on June 11, 2016.
The implementing Regulation is available at: http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32016R0892&from=EN .
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
