Question ID
2025_7316
Legal act
Regulation (EU) No 575/2013 (CRR)
Topic
Supervisory reporting - FINREP (incl. FB&NPE)
Article
415
Paragraph
3
COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
Regulation (EU) 2021/451 – ITS on supervisory reporting of institutions (repealed)
Article/Paragraph
Annexes III and V
Type of submitter
Individual
Subject matter
Counterparty classification of CCP
Question

Where counterparty sector breakdown applies, it is required more guidance on how to classify a CCP which have the banking license. For instance, in template F10, where should we report derivatives positions we have with a QCCP which at the same time is (i) a clearing house and (ii) a credit institution (included in the list of ECB’s supervised banks)?

We face the ambiguity in classification in further reporting frameworks both supranational (e.g. G-SIB data collection exercise, FSB)  and local (i.e. Circolare 262 Banca d’Italia on Financial Statements).

Background on the question

Treatment within counterparty sector breakdown of CCP which are credit institutions as well. According to chapter 6. “Counterparty breakdown” clearing houses fall within the definition of other financial corporation which differs from credit institutions.

Submission date
Final publishing date
Final answer

Following the provisions in Section 6. “Counterparty breakdown” of Annex V, Part 1 of Commission Implementing Regulation (EU) 2021/451, if the qualifying Central Clearing Counterparty meets the definition in point (1) of Article 4(1) of Regulation (EU) No 575/2013 (‘undertaking the business of which is to take deposits or other repayable funds from the public and to grant credits for its own account’), it should be reported as 'Credit institution'.

Status
Final Q&A

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