Adopted and published on the Official Journal
The Implementing Technical Standards (ITS) on the reporting of the hypothetical capital of a central counterparty (CCP) relates to prudential requirements for banks’ exposures to central counterparties. In particular, they specify a reporting frequency on a quarterly basis and the template for the information that a CCP has to deliver to all credit institutions and investment firms that are clearing members, as well as to the supervisory authorities competent for those clearing members.
The European Banking Authority (EBA) launches today a consultation on draft Implementing Technical Standards (ITS) on the reporting of the hypothetical capital of a central counterparty (CCP). These ITS will be part of the Single Rulebook aimed at enhancing regulatory harmonisation in the banking sector in Europe. The consultation runs until 30 September 2013.
This set of draft ITS relates to prudential requirements for banks' exposures to central counterparties. In particular, they specify a reporting frequency on a quarterly basis and the template for the information that a CCP has to deliver to all credit institutions and investment firms that are clearing members, as well as to the supervisory authorities competent for those clearing members. Furthermore, the draft ITS specify the conditions under which the supervisory authorities may request an increase in the reporting frequency.
Comments to this consultation can be sent to the EBA by clicking on the "send your comments" button on the consultation page. Please note that the deadline for the submission of comments is 30 September 2013.
All contributions received will be published following the close of the consultation, unless requested otherwise.
A public hearing will take place at the EBA premises on 5 September 2013 from 15:00 to 17:00 hours UK time.
The proposed draft ITS have been developed on the basis of Regulation (EU) 648/2012 (EMIR) as amended by Article 520(1) of Regulation (EU) 575/2013 (Capital Requirements Regulation – CRR) The EBA is expected to submit these draft ITS to the European Commission for endorsement by 1 January 2014.
The European Banking Authority (EBA) published today its final draft Implementing Technical Standards (ITS) on the reporting of the hypothetical capital of a central counterparty (CCP). These final draft ITS specify calculations and reporting frequencies and templates for the information relating to hypothetical capital that a CCP has to deliver to all the credit institutions and investment firms that are clearing members for the purpose of calculating their own capital requirements. The same information has to be reported to the competent authorities.
In particular, these ITS specify two stress situations under which, following the default of one of the members, competent authorities may set higher frequency of reporting.
An initial phase-in period is included with the aim to mitigate the most demanding aspects of these provisions during the first year of its implementation. On the one hand, this will allow the CCPs to make a smooth transition to the new systems and, on the other hand, clearing members will be able to have the necessary information to compute their capital requirements for exposures to CCPs.
The EBA finalised the draft ITS taking into account the responses to the consultation that ended on September 2, 2013
These draft ITS have been developed on the basis of Regulation (EU) 648/2012 (‘EMIR') as amended by Article 520(1) of Regulation (EU) 575/2013 (‘CRR').
The final standards have been sent today to the European Commission for their adoption as EU Regulations that will be directly applicable throughout the EU.
The European Banking Authority (EBA) launches today a consultation on draft Implementing Technical Standards (ITS) on the reporting of the hypothetical capital of a central counterparty (CCP). These ITS will be part of the Single Rulebook aimed at enhancing regulatory harmonisation in the banking sector in Europe. The consultation runs until 30 September 2013.
This set of draft ITS deal with the reporting of prudential requirements for banks’ exposures to central counterparties. In particular, they specify a reporting frequency on a quarterly basis and the template for the information that a CCP has to deliver to all credit institutions and investment firms that are clearing members, as well as to the supervisory authorities competent for those clearing members. Furthermore, the draft ITS specify the conditions under which the supervisory authorities may request an increase in the reporting frequency.
Comments to this consultation can be sent to the EBA by clicking on the "send your comments" button on the consultation page. Please note that the deadline for the submission of comments is 30 September 2013.
All contributions received will be published following the close of the consultation, unless requested otherwise.
A public hearing will take place at the EBA premises on 5 September 2013 from 15:00 to 17:00 hours UK time.
The proposed draft ITS have been developed on the basis of Regulation (EU) 648/2012 (EMIR) as amended by Article 520(1) of Regulation (EU) 575/2013 (Capital Requirements Regulation – CRR) The EBA is expected to submit these draft ITS to the European Commission for endorsement by 1 January 2014.