Summary
The European Parliament has decided not to object to a new regulation that sets criteria for ESMA to identify if central counterparties outside the EU are systemically important for the Union's financial stability. 9 16.09.2020
Other
finance
european union
public administration
financial institutions and credit
Key points
- The decision establishes criteria for assessing whether non-EU central counterparties are systemically important to the Union.
- The regulation empowers the Commission to specify criteria for ESMA regarding third-country counterparties.
- Systemically important non-EU entities will be subject to enhanced supervision and specific regulatory requirements by ESMA.
- The measure aims to ensure a level playing field between EU-based and non-EU financial institutions.
Documents (PDFs)
RECOMMENDATION FOR A DECISION to raise no objections to the Commission delegated regulation 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
Non-objection to a delegated act: criteria for determining third-country CCP's systemic importance
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