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🔗 Back to Summary. 🇫🇷 French Version: 2021R0023_FR.67. Open the PDF. Direct link to EUR-LEX.
Article 66 – Protection for financial collateral, set off and netting arrangements ⬅️ | ➡️ Article 68 – Protection for structured finance arrangements and covered bonds
Article 67 - Protection for security arrangements
The resolution authority shall ensure that the application of a resolution tool does not result in any of the following with respect to security arrangements between a CCP under resolution and other parties to those arrangements:
(a)
the transfer of assets against which the liability is secured unless that liability and benefit of the security are also transferred;
(b)
the transfer of a secured liability unless the benefit of the security is also transferred;
(c)
the transfer of the benefit of the security unless the secured liability is also transferred;
(d)
the modification or termination of a security arrangement through the use of ancillary powers, if the effect of that modification or termination is that the liability ceases to be secured.