Regulation on Central Counterparties (CCP) recovery and resolution

Published 02.11.2020

State of play: legislative phase

Level 1

Commission

  • 28 November 2017, the proposal was published.
  • 19 November 2020, the Commission (DG FISMA) published a communication on the Council’s position to the EP on CCP recovery and resolution agreement.

Council

Parliament

  • 25 September 2017, the ECON Committee published the draft report on the proposal.
  • 24 January 2018, the ECON Committee adopted its report.
  • 27 March 2019, the Parliament adopted its first reading in plenary.
  • 23 January 2020, the ECON Committee decided to enter into inter-institutional negotiations.

Trilogue negotiations

  • 28 January 2020, the first trilogue meeting took place.
  • 23 June 2020, the Council and the Parliament reached a deal on a common set of rules for CCPs.

Level 2

Commission

  • 21 September 2020, the Commission published a delegated regulation 2020/1303 of 14 July 2020 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to the criteria that ESMA should take into account to determine whether a central counterparty established in a third country is systemically important or likely to become systemically important for the financial stability of the Union or of one or more of its Member States.
  • 21 September 2020, the Commission published a Delegated regulation 2020/1304 with regard to the minimum elements to be assessed by ESMA when assessing third-country CCPs’ requests for comparable compliance and the modalities and conditions of that assessment.

Next steps

  • Following finalisation of technical work, the political agreement will be submitted for endorsement by member states at the Council.
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