{"id":2690,"date":"2024-12-04T09:12:59","date_gmt":"2024-12-04T07:12:59","guid":{"rendered":"https:\/\/lexcovery.com\/2024\/12\/regulation-eu-2024-2987-of-the-european-parliament-and-of-the-council-of-27-november-2024-amending-regulations-eu-no-648-2012-eu-no-575-2013-and-eu-2017-1131-as-regards-measures-to-mitigate-e\/"},"modified":"2024-12-04T09:12:59","modified_gmt":"2024-12-04T07:12:59","slug":"regulation-eu-2024-2987-of-the-european-parliament-and-of-the-council-of-27-november-2024-amending-regulations-eu-no-648-2012-eu-no-575-2013-and-eu-2017-1131-as-regards-measures-to-mitigate-e","status":"publish","type":"post","link":"https:\/\/lexcovery.com\/en\/2024\/12\/regulation-eu-2024-2987-of-the-european-parliament-and-of-the-council-of-27-november-2024-amending-regulations-eu-no-648-2012-eu-no-575-2013-and-eu-2017-1131-as-regards-measures-to-mitigate-e\/","title":{"rendered":"Regulation (EU) 2024\/2987 of the European Parliament and of the Council of 27 November 2024 amending Regulations (EU) No 648\/2012, (EU) No 575\/2013 and (EU) 2017\/1131 as regards measures to mitigate excessive exposures to third-country central counterparties and improve the efficiency of Union clearing markets (Text with EEA relevance)"},"content":{"rendered":"<p>This regulation amends several EU regulations related to central counterparties (CCPs) and derivatives clearing. The key aspects include:1. The regulation aims to reduce excessive exposures to third-country CCPs and improve the efficiency of EU clearing markets. It introduces new requirements for financial counterparties to maintain active accounts at EU CCPs and clear a representative portion of certain derivatives through them.2. Major changes include:<\/p>\n<ul>\n<li>New requirements for financial counterparties to maintain active accounts at EU CCPs for clearing certain derivatives<\/li>\n<li>Enhanced supervision and monitoring of CCPs through a new Joint Monitoring Mechanism<\/li>\n<li>Simplified procedures for CCPs to extend services and modify risk models<\/li>\n<li>New rules on interoperability arrangements between CCPs<\/li>\n<li>Enhanced transparency requirements for CCPs and clearing members<\/li>\n<\/ul>\n<p>3. Key provisions that may impact market participants:<\/p>\n<ul>\n<li>Financial counterparties must hold active accounts at EU CCPs for clearing certain derivatives<\/li>\n<li>New requirements for transparency in fee disclosures<\/li>\n<li>Changes to margin and collateral requirements<\/li>\n<li>Enhanced reporting obligations<\/li>\n<li>New rules on intragroup transactions and exemptions<\/li>\n<\/ul>\n<p>The regulation will generally apply from December 24, 2024, with some provisions having different application dates. It represents a significant reform of the EU&#8217;s derivatives clearing framework aimed at reducing reliance on third-country CCPs while strengthening EU clearing markets.<\/p>\n<p><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/AUTO\/?uri=OJ:L_202402987\"><strong>Full text by link<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This regulation amends several EU regulations related to central counterparties (CCPs) and derivatives clearing. The key aspects include:1. The regulation aims to reduce excessive exposures to third-country CCPs and improve the efficiency of EU clearing markets. It introduces new requirements for financial counterparties to maintain active accounts at EU CCPs and clear a representative portion&hellip;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"pmpro_default_level":"","footnotes":""},"categories":[13,42],"tags":[],"class_list":["post-2690","post","type-post","status-publish","format-standard","hentry","category-eu-legislation-general-en","category-eu-legislation-important","pmpro-has-access"],"acf":{"patreon-level":0},"_links":{"self":[{"href":"https:\/\/lexcovery.com\/en\/wp-json\/wp\/v2\/posts\/2690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lexcovery.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lexcovery.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lexcovery.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/lexcovery.com\/en\/wp-json\/wp\/v2\/comments?post=2690"}],"version-history":[{"count":0,"href":"https:\/\/lexcovery.com\/en\/wp-json\/wp\/v2\/posts\/2690\/revisions"}],"wp:attachment":[{"href":"https:\/\/lexcovery.com\/en\/wp-json\/wp\/v2\/media?parent=2690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lexcovery.com\/en\/wp-json\/wp\/v2\/categories?post=2690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lexcovery.com\/en\/wp-json\/wp\/v2\/tags?post=2690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}