Commission Delegated Regulation (EU) 2016/2251 specifies, among others, the risk-management procedures, including the levels and type of collateral and segregation arrangements, that financial counterparties are required to have for the exchange of collateral, with respect to their over-the-counter (OTC) derivative contracts not cleared by a central counterparty.
Article 36(2), point (a), and Article 37(3), point (a), of Delegated Regulation (EU) 2016/2251 provide for a deferred date of application of the bilateral margin requirements for OTC derivative contracts that are not cleared by a central counterparty and that are concluded between counterparties which are part of the same group and where one counterparty is established in a third country and the other counterparty is established in the Union.
That deferred date of application was necessary to ensure that such OTC derivative contracts were not subject to the bilateral margin requirements before the adoption of an implementing act pursuant to Article 13(2) of Regulation (EU) No 648/2012.
The immediate application of the bilateral margin requirements for OTC derivative contracts that are not cleared by a central counterparty and that are concluded between counterparties which are part of the same group and where one counterparty is established in a third country and the other counterparty is established in the Union without the adoption of implementing acts as referred to in Article 13(2) of Regulation (EU) No 648/2012, would, however have detrimental economic impacts on Union counterparties.
It is therefore necessary to further defer the application of the bilateral margin requirements for non-centrally cleared OTC
derivative intragroup contracts
The date of application is therefore deferred to 30 June 2025.
derivative intragroup contracts
The date of application is therefore deferred to 30 June 2025.
Transparency and predictability are key both to the credibility of the resolution framework and to the safeguard of investors’ protection.
These Guidelines aim at ensuring that a minimum level of harmonised information on how authorities would effectively execute the write down and conversion of capital instruments and the use of the bail-in tool (“exchange mechanic”) is made public.
EIOPA has decided to revise the information it receives from national supervisors on occupational pensions, amending the system in place since 2018.
The new decision, which will be applicable as of 1 January 2025, closes important data gaps on emerging risks and fixes inconsistencies that have been reported to EIOPA over the past years.
The main changes concern better proportionality measures for small occupational pension funds and the inclusion of information on:
- high-level, look-through data on all investments in investment funds (including UCITs) as well as information on derivative positions – to fully understand the risk exposures of institutions for occupational retirement provision (IORPs) and the products they invest in,
- cross-border data – to accurately monitor cross-border relationships.
