Banks could quit CCPs that miss Esma deadline

A world of confusion


Banks face a nasty capital hit unless clearing houses around the world seek approval from the European Securities and Markets Authority (Esma) by September 15 – a deadline 13 central counterparties (CCPs), from South Korea to Switzerland, have told Risk they will meet. But that leaves a host of others that have no plans to apply, or have not shown their hand – and a world of confusion.

Until recently, the Esma authorisation process laid out in the European Market Infrastructure Regulation (Emir)

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