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
- 4 December 2019, the COREPER approved the Council’s position on a proposed framework for clearing houses and their authorities under the CCP recovery and resolution.
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.
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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.
