CCP rules are unclear and risky, EBA and Esma warn

Agencies query areas of ambiguity for clearing houses’ derivatives transactions

European Union map

The European Banking Authority (EBA) and the European Securities and Markets Authority (Esma) have issued a joint report calling for clarification of regulation of Europe's central counterparty (CCP) clearing houses. The two agencies identify three major areas of ambiguity between two pieces of regulation, the Capital Requirements Regulation (CRR) and the European Market Infrastructure Regulation (Emir).

The two agencies say the European Commission (EC) needs to "clarify the overlap of the

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