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Article 3 – Requirements relating to safeguards on sound liquidity risk management ⬅️ | ➡️ Article 5 – Discretionary measures
Article 4 - Assessment of safeguards
1.
The Eurosystem central banks shall carry out assessments of compliance by eligible CCPs with the requirements relating to safeguards on financial soundness and sound liquidity risk management provided for in Articles 2 and 3 on a quarterly basis and in a forward-looking manner.
2.
If an event occurs between the quarterly assessments provided for in paragraph 1 that could raise concerns in relation to an eligible CCP’s financial soundness and liquidity risk management, the Eurosystem central banks shall also carry out occasional assessments of the compliance by an eligible CCP with the requirements on financial soundness and sound liquidity risk management provided for in Articles 2 and 3, including by way of ad hoc intensified monitoring and in a forward-looking manner.
3.
For the purpose of the assessments provided for in paragraphs 1 and 2, the following information may be taken into account:
(a)
quantitative information on capital, margin, default fund, other financial resources and liquidity risk controls reported within the context of Regulation (EU) No 648/2012;
(b)
any additional information on capital, margin, default fund, other financial resources and liquidity risk controls;
(c)
information on elements listed in Article 3(1), point (a), with respect to a CCP’s liquidity risk controls regarding stress situations;
(d)
any other information that is considered relevant, in particular if it raises substantial concerns about a CCP’s financial soundness, sound liquidity risk management, general risk management framework and governance.
4.
The eligible CCP shall provide the information referred to in paragraph 3, if requested to do so by the relevant euro area NCB.