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🔗 Back to Summary. 🇫🇷 French Version: 2013R0153_FR.40. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 39 – Financial instruments ⬅️ | ➡️ Article 41 – Haircuts
Références LVL1 <=> LVL2
Level 1 reference(s): 2012R0648_EN.46
Article 40 - Valuing collateral
1.
For the purposes of valuing highly liquid collateral as defined in Article 37, a CCP shall establish and implement policies and procedures to monitor on a near to real time basis the credit quality, market liquidity and price volatility of each asset accepted as collateral. A CCP shall monitor on a regular basis, and at least annually, the adequacy of its valuation policies and procedures. Such review shall also be carried out whenever a material change occurs that affects the CCP’s risk exposure.
2.
A CCP shall mark-to-market its collateral on a near to real time basis and, where not possible, a CCP shall be able to demonstrate to the competent authorities that it is able to manage the risks.