2013R0153 - Summary
COMMISSION DELEGATED REGULATION (EU) No 153/2013 of 19 December 2012 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on requirements for central counterparties (Text with EEA relevance)
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🇫🇷 French Version: 2013R0153_FR.0. Open the PDF. Direct link to EUR-LEX.
CHAPTER I - GENERAL
Article 1 - Definitions
CHAPTER II - RECOGNITION OF THIRD COUNTRY CCPs
Article 2 - Information to be provided to ESMA for the recognition of a CCP
CHAPTER III - ORGANISATIONAL REQUIREMENTS
Article 3 - Governance arrangements
Article 4 - Risk management and internal control mechanisms
Article 5 - Compliance policy and procedures
Article 6 - Compliance function
Article 7 - Organisational structure and separation of the reporting lines
Article 8 - Remuneration policy
Article 9 - Information technology systems
Article 10 - Disclosure
Article 11 - Internal auditing
CHAPTER IV - RECORD KEEPING
Article 12 - General requirements
Article 13 - Transaction records
Article 14 - Position records
Article 15 - Business records
Article 16 - Records of data reported to a trade repository
CHAPTER V - BUSINESS CONTINUITY
Article 17 - Strategy and policy
Article 18 - Business impact analysis
Article 19 - Disaster recovery
Article 20 - Testing and monitoring
Article 21 - Maintenance
Article 22 - Crisis management
Article 23 - Communication
CHAPTER VI - MARGINS
Article 24 - Percentage
Article 25 - Time horizon for the calculation of historical volatility
Article 26 - Time horizons for the liquidation period
Article 27 - Portfolio margining
Article 28 - Procyclicality
CHAPTER VII - DEFAULT FUND
Article 29 - Framework and governance
Article 30 - Identifying extreme but plausible market conditions
Article 31 - Reviewing extreme but plausible scenarios
CHAPTER VIII - LIQUIDITY RISK CONTROLS
Article 32 - Assessment of liquidity risk
Article 33 - Access to liquidity
Article 34 - Concentration risk
CHAPTER IX - DEFAULT WATERFALL
Article 35 - Calculation of the amount of the CCP’s own resources to be used in the default waterfall
Article 36 - Maintenance of the amount of the CCP’s own resources to be used in the default waterfall
CHAPTER X - COLLATERAL
Article 37 - General requirements
Article 38 - Cash collateral
Article 39 - Financial instruments
Article 40 - Valuing collateral
Article 41 - Haircuts
Article 42 - Concentration limits
CHAPTER XI - INVESTMENT POLICY
Article 43 - Highly liquid financial instruments
Article 44 - Highly secured arrangements for the deposit of financial instruments
Article 45 - Concentration limits
Article 46 - Non-cash collateral
CHAPTER XII - REVIEW OF MODELS, STRESS TESTING AND BACK TESTING
SECTION 1 - Models and programmes
Article 47 - Model Validation
Article 48 - Testing programmes
SECTION 2 - Back testing
Article 49 - Back testing procedure
SECTION 3 - Sensitivity testing and analysis
Article 50 - Sensitivity testing and analysis procedure
SECTION 4 - Stress testing
Article 51 - Stress testing procedure
Article 52 - Risk factors to stress test
Article 53 - Stress testing total financial resources
Article 54 - Stress testing liquid financial resources
SECTION 5 - Coverage and use of test results
Article 55 - Maintaining sufficient coverage
Article 56 - Review of models using test results
SECTION 6 - Reverse stress tests
Article 57 - Reverse stress tests
SECTION 7 - Default procedures
Article 58 - Testing default procedures
SECTION 8 - Validation and testing frequency
Article 59 - Frequency
SECTION 9 - Time horizons used when performing tests
Article 60 - The time horizons
SECTION 10 - Public disclosure
Article 61 - Information to be publicly disclosed
Article 62 - Entry into force and application
Annex I - Conditions applicable to financial instruments, bank guarantees, public guarantees and gold considered as highly liquid collateral
Annex II - Conditions applicable to highly liquid financial instruments