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ARTICLE · 18 JUNE 2018

Financial Regulatory Developments Focus – June 14, 2018 Issue 23/2018

A&O Shearman
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On June 4, 2018, a Commission Implementing Regulation was published in the Official Journal of the European Union, following a consultation by the European Commission in April 2018 which closed on May 15, 2018.

United KingdomFinance and Banking
A&O Shearman
A&O Shearman
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Bank Prudential Regulation & Regulatory Capital

Transitional Periods Further Extended for Own Funds Requirements for Exposures to CCPs

On June 4, 2018, a Commission Implementing Regulation was published in the Official Journal of the European Union, following a consultation by the European Commission in April 2018 which closed on May 15, 2018. The Commission Implementing Regulation extends the transitional periods related to own funds requirements for exposures to CCPs that are set out in the Capital Requirements Regulation and the European Market Infrastructure Regulation.

Thirty-two third-country CCPs have been recognized by the European Securities and Markets Authority to date. However, a number of third-country CCPs are still awaiting recognized status and their recognition process is not scheduled to be completed by the expiry of the existing CRR and EMIR transitional periods on June 15, 2018. Without an extension of the transitional periods, banks and

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