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FIA supports EC transitional period for CCP equivalence

FIA supports EC transitional period for CCP equivalence

23 November 2017 10:45am EST

FIA has commented on the European Commission’s published Draft Implementing Regulation on the extension of transitional period related to own funds requirements for exposure to central counterparties in the Capital Requirements Regulation. Whilst FIA recognises the ongoing efforts by the EC to deliver positive equivalence determinations for jurisdictions where third-country CCPs that provide services to EU firms are established, FIA believes that extending the transitional provisions under the CRR is critical to ensure continuous access to these markets whilst outstanding equivalence decisions are made. FIA also notes that the equivalence determinations for the Securities and Exchange Commission regime are still outstanding and the significant impact it will have on EU Banks and EU domiciled clients if US equity derivative markets can no longer be accessed.

 

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FIA CCP Equivalence Letter- FIA response- FINAL.pdf (44.48 KB)

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