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Références LVL1 <=> LVL2
Level 1 reference(s): 2012R0648_EN.11 > 14#a
Article 14 - (Article 11(14)(a) of Regulation (EU) No 648/2012)
Portfolio compression
Financial counterparties and non-financial counterparties with 500 or more OTC derivative contracts outstanding with a counterparty which are not centrally cleared shall have in place procedures to regularly, and at least twice a year, analyse the possibility to conduct a portfolio compression exercise in order to reduce their counterparty credit risk and engage in such a portfolio compression exercise.
Financial counterparties and non-financial counterparties shall ensure that they are able to provide a reasonable and valid explanation to the relevant competent authority for concluding that a portfolio compression exercise is not appropriate.