Public hearing on recovery and the resolution of central counterparties

© EP

The ECON Committee is organising on 22nd March a public hearing on the Commission proposal of November 2016 on the recovery and the resolution of central counterparties (CCPs). The hearing will be made of two panels, first authorities and then stakeholders (one CCP, one clearing member and one client of clearing member being represented). Presentations will be followed by Q&A sessions with MEPs.

The CCPs are entities authorised and supervised under EMIR, which has laid solid ground for the day-to-day supervision and risk management of CCPs and has given them more tasks and more obligations than ever before. Nevertheless, the risks of a CCP into recovery and possibly even resolution cannot be fully excluded and, under such a scenario, the stakes would be of systemic importance. Now on the table, the proposal provides a range of tools and incentives to anticipate a crisis and to address it efficiently if it ever materialises. The proposal also aims at reflecting the international discussions at the FSB and at the CPMI-IOSCO.