Esma wants more detail on CCP recovery plans

Isda AGM: regulator and industry emphasise need for effective clearing house supervision

esma-steven-maijoor
Steven Maijoor: calls for more direction on CCP recovery options

Steven Maijoor, the chairman of the European Securities and Markets Authority (Esma), has called for lawmakers to include more detail in draft rules on recovery and resolution planning for derivatives central clearing counterparties (CCPs), which were proposed by the European Commission in November last year and are now being considered by the parliament and council.

A range of tools is available if losses at a CCP overwhelm its first line of defence. Each tool has its own pros and cons, and

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