file-o file-word file-excel file-powerpoint file-image file-archive file-audio file-movie file-code file-openoffice file-css menu googleplus facebook instagram twitter feed youtube vimeo2 lanyrd flickr picassa deviantart github wordpress blogger tumblr yahoo soundcloud skype linkedin lastfm delicious stumbleupon stackoverflow pinterest foursquare cross arrow-left arrow-down arrow-up arrow-right arrow-left2 arrow-down2 arrow-up2 arrow-right2 arrow-left3 arrow-down3 arrow-up3 arrow-right3 search

You are here

European Commission extends QCCP deadline

European Commission extends QCCP deadline

8 June 2016 11:45am EDT

Today, the European Commission implemented regulation to extend the deadline for exposures to qualifying central counterparties (QCCPs).  As expected, Regulation 2016/82 extends QCCP deadlines for another six months until 15 December 2016.  

The authorisation process for existing CCPs established in the European Union is ongoing, but will not be completed by the previous deadline of 15 June 2016.  There are still two CCPs establised in the EU but still awaiting authorisation. Additionally, a number of third-country CCPs are also awaiting authorisation. 

As the commission noted in the regulation, "If the transitional period is not extended, institutions established in the Union having exposures to those 2 CCPs would see significant increases in the own funds requirements for those exposures. While such increases may only be temporary, they could potentially lead to the withdrawal of those institutions as direct participants in those CCPs or to the, at least temporary, cessation of the provision of clearing services to those institutions' clients and thus cause disruption in the markets in which those CCPs operate and potentially in Union markets in general."

FIA has been active on this issue and will continue to advocate for policies that will allow global markets to function smoothly and efficiently.  
 

Close

Close

Menu

Menu

Back to FIA