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ESRB publishes advice on eligibility of collateral under EMIR

On 31 July 2012, in accordance with Article 46(3) of EMIR, the European Systemic Risk Board (“ESRB”) submitted advice to the European Securities and Markets Authority (“ESMA”) regarding: the type of eligible collateral that can be considered highly liquid; the haircuts to apply to asset values; and the conditions under which commercial bank guarantees may […]

Defining the Clearing Threshold for Non-Financial Counterparties Under EMIR

On 31 July 2012, the European Systemic Risk Board (“ESRB”) submitted advice to the European Securities and Markets Authority (“ESMA”) on aspects of the draft regulatory technical standards (“RTS”) that ESMA is required to submit to the EU Commission under Article 10(4) of EMIR regarding: criteria for establishing which OTC derivative contracts are objectively measurable […]

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