Fresh delay for EU rules on CCP spillover losses

Recovery and resolution rules will miss the revised February delivery date

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Pushback: no new date for CCP recovery and resolution rules

European rules on how to share out catastrophic losses at a clearing house have been postponed again, has learned. The European Commission's (EC) recovery and resolution framework was set for publication in February, after missing its end-2015 target, but it will now be pushed back further, according to a well-placed source at one of Europe's national regulators.

The source speculates the hold-up is due to a disagreement between countries on what tools should be used to mop up excess

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