Clearers laud EC transition extension for non-EU CCPs

Absent the extension, OCC estimates extra $74 billion in RWAs for European members

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Time on their side? AACB says the extension will enable a thorough assessment of the jurisdictions that remain subject to an equivalence determination

Clearing market participants have welcomed European Commission plans to extend transitional provisions related to bank capital requirements for exposures to central counterparties (CCPs) based outside the EU.

"This extension will enable a thorough assessment of the jurisdictions that remain subject to an equivalence determination. AACB and its clients are strong proponents of the current and future equivalence process that enables a level playing field for global financial markets," ABN Amro

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