The European Commission launched, on Thursday 11 June, a public consultation on three draft delegated acts on the supervision of non-EU central counterparties (CCPs) that provide services to EU firms.
The new rules aim to improve the EU's capacity to manage and address external risks to the financial system, the Commission said.
The first draft delegated regulation specifies the criteria that the European Securities and Markets Authority (ESMA) should take into account to determine whether a CCP established in a non-Member State 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
The text also stresses that the nature of the transactions cleared by the CCP must be taken into account, including their complexity, risk profile and the transparency and liquidity of the markets concerned.
The second draft delegated regulation, on the other hand, sets out the minimum elements that ESMA has to assess when dealing with comparable compliance requests from non-EU CCPs and that it has to assess whether compliance with their own national rules is equivalent to compliance with EU requirements. Lastly, the last draft text deals with surveillance fees for non-EU CCPs.
Stakeholders have until 9 July to submit their comments to https://bit.ly/37iZRQA (Original version in French by Marion Fontana)