Updated 04/02/2025
In force

Version from: 12/08/2022
Amendments
Delegated Regulation 152/2013
Based on: Art. 16(3)
Specifies: Art. 16(2)
QA7 - EMIR
Status: Final
Updated: 04/06/2013
Art. 16
QA862 - EU-CCPs
Status: Final
Answered: 27/04/2023
Art. 16
ESMA43-1527801302-1333
Published: 11/10/2024
Art. 16(2)
FAQ - EMIR - Anforderungen an nichtfinanzielle Gegenparteien
Status: Final
Updated: 18/06/2019
Art. 16
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EMIR ToolEuropean Market Infrastructure Regulation (EMIR)
Article 16

Article 16 - Regulation 648/2012 (EMIR)

Article 16

Capital requirements

1.  
A CCP shall have a permanent and available initial capital of at least EUR 7,5 million to be authorised pursuant to Article 14.
2.  
A CCP’s capital, including retained earnings and reserves, shall be proportionate to the risk stemming from the activities of the CCP. It shall at all times be sufficient to ensure an orderly winding-down or restructuring of the activities over an appropriate time span and an adequate protection of the CCP against credit, counterparty, market, operational, legal and business risks which are not already covered by specific financial resources as referred to in Articles 41 to 44.
3.  
In order to ensure consistent application of this Article, EBA shall, in close cooperation with the ESCB and after consulting ESMA, develop draft regulatory technical standards specifying requirements regarding the capital, retained earnings and reserves of a CCP referred to in paragraph 2.

EBA shall submit those draft regulatory technical standards to the Commission by 30 September 2012.

Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.