EBA欧洲银行-28EBA-2016-E-6672920Call-for-Advice-Review-of-the-OF-requirements-for-exposures-to-CCPs_2页_190kb

Summary of the Call for Advice to the EBA on Own Funds Requirements for Exposures to Central Counterparties

Core Content

The European Commission has issued a call for technical advice from the European Banking Authority (EBA) regarding the review of own funds requirements for exposures to central counterparties (CCPs). This review is prompted by the need to align EU regulations with the updated international standards set by the Basel Committee on Banking Supervision (BCBS). The current EU rules on this matter are outlined in Articles 300 to 311 of Regulation (EU) No 575/2013 (CRR) and in Articles 50a to 50d of Regulation (EU) 648/2012 (EMIR). The Commission seeks the EBA's input to inform its decision on whether to amend these rules in light of the BCBS's 2014 amendments.

Main Views

The BCBS framework, initially adopted in April 2012, has been revised to address the treatment of:

• Trade exposures to CCPs
• Default fund contributions to qualifying CCPs (QCCPs)

The treatment of exposures to non-qualifying CCPs remains unchanged under the existing EU rules.

The Commission is particularly interested in understanding the impact of the amended framework on own funds requirements for EU institutions, including both exposures to EU and third-country CCPs. The EBA is also requested to evaluate whether the implementation of the amended framework is appropriate within EU law.

Key Information

Scope of the EBA's Task

The EBA is invited to provide comprehensive advice to the Commission, including:

• An assessment of the impact of the BCBS framework on own funds requirements
• Views on the appropriateness of implementing the amended framework in EU law
• Data and analysis on the following elements:
  • (a) Impact on own funds requirements for trade exposures to EU and third-country CCPs
  • (b) Impact on own funds requirements for default fund contributions to EU and third-country CCPs

Data Collection Requirements

The EBA is required to:

• Collect all relevant data and information
• Provide descriptive statistics based on the data, including sample sizes, averages, etc.
• Include the data that was previously sent by EU institutions to the BCBS

Final Considerations

The EBA is also asked to:

• Report on any issues or inconsistencies identified by competent authorities in the EU during the implementation of the current rules
• Offer suggestions for rectification of such issues
• Highlight any limitations due to time or resource constraints that may affect the analysis

Deadline and Contact

• Deadline for submission: 1 June 2016
• Contact person: Sebastijan Hrovatin

Notes

• The Commission emphasizes that the analysis provided by the EBA will not prejudice its final decision.
• The Commission will continue to consult with Member State experts as part of its preparation process.