EU deadlock set to delay CCP resolution rules
Lawmakers disagree over whether Esma should be given new powers to tackle distressed CCPs
European rules on how to resolve distressed derivatives central clearing counterparties (CCPs) are now highly likely to face a sizeable delay due to deadlock between European Union lawmakers negotiating who should be responsible for implementing the rules, say lobbyists and legislators.
“It would be nice to have CCP resolution rules done and dusted soon, but like all these things, the lawmaking process has a pace, and it is difficult to force things through that don’t have the required amount
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