Article 24 | EMIR | Regulation 648/2012

Article 24 - Regulation 648/2012 (EMIR)

Attention! This article was amended after the current consolidated version was issued. The amendments apply since 24/12/2024. Please consult Regulation 2024/2987 to review the changes made to the article.

Article 24

Emergency situations

The CCP’s competent authority or any other authority shall inform ESMA, the college, the relevant members of the ESCB and other relevant authorities without undue delay of any emergency situation relating to a CCP, including developments in financial markets, which may have an adverse effect on market liquidity and the stability of the financial system in any of the Member States where the CCP or one of its clearing members are established.

Recitals

TITLE I - SUBJECT MATTER, SCOPE AND DEFINITIONS (Article 1-3)

TITLE II - CLEARING, REPORTING AND RISK MITIGATION OF OTC DERIVATIVES (Article 4-13)

TITLE III - AUTHORISATION AND SUPERVISION OF CCPs (Article 14-25)

CHAPTER 1 - Conditions and procedures for the authorisation of a CCP (Article 14-21)

CHAPTER 2 - Supervision and oversight of CCPs (Article 22)

CHAPTER 3 - Cooperation (Article 23-24)Article 23 - Cooperation between authorities Article 24 - Emergency situations

CHAPTER 4 - Relations with third countries (Article 25)

TITLE IV - REQUIREMENTS FOR CCPs (Article 26-50)

TITLE V - INTEROPERABILITY ARRANGEMENTS (Article 51-54)

TITLE VI - REGISTRATION AND SUPERVISION OF TRADE REPOSITORIES (Article 55-77)

TITLE VII - REQUIREMENTS FOR TRADE REPOSITORIES (Article 78-82)