2012

This discussion paper seeks stakeholders‟ views on the regulatory technical standards the ESAs are required to draft under what is currently Article 6/8. The Regulation delegates powers to the Commission to adopt Regulatory Technical Standards (RTS) specifying the requirements on risk mitigation techniques for OTC derivative contracts not cleared by a CCP. EBA, ESMA and EIOPA are expected to jointly develop draft RTS, and submit them to the Commission by 30 September 2012

The EBA publishes today a discussion paper on a template for recovery plans aimed at encouraging discussion and at gathering stakeholders’ opinions at an early stage of the process. The discussion is open for comments until 15 June 2012.

Article 12 of the European Commission’s (EC) proposals for a Regulation on over-thecounter (OTC) derivatives, central counterparties (CCPs) and trade repositories 1 (the draft Regulation) requires the EBA to draft regulatory technical standards (RTS) on the capital requirements that a CCP should meet. This discussion paper seeks stakeholders’ views on this topic with the understanding that a political agreement among the EC, the European Parliament and the Council of the EU was reached at their so-called Trilogue meeting of 9 February 2012, although a final new text of the Regulation has not yet been made public.