ESMA is proposing a new annual reporting framework for clearing activity at recognised third-country CCPs under EMIR, aiming to improve supervisory visibility of EU firms' exposures to such CCPs.
Why it matters. Regulatory authorities and market participants will have a structured and consistent overview of EU firms' exposures to recognised third-country CCPs, enhancing risk management and oversight.
The European Securities and Markets Authority (ESMA), the EU's financial markets regulator and supervisor, has launched a consultation on a proposed annual reporting framework under EMIR for clearing activity at recognised third-country central counterparties (CCPs), aimed at improving supervisory visibility of EU firms' exposures to such CCPs.
The objective is to provide supervisory authorities with a structured and consistent overview of the scale, characteristics and risk profile of EU firms' exposures to recognised third-country CCPs, contributing to the broader monitoring framework established under EMIR 3.
The consultation paper sets out ESMA's proposed Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS) under European Market Infrastructure Regulation (EMIR).
