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Updated 21/12/2024

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In force since 15/03/2013

Version from: 07/03/2024

References (35)

Timeline

06/03/2024

Amendment: Delegated Regulation 2024/818 published in OJ

04/10/2023

ESMA91-1505572268-3317

Final Draft published

28/11/2022

Amendment: Delegated Regulation 2022/2311 published in OJ

14/10/2022

ESMA91/372/2466

Final Draft published

26/05/2016

Amendment: Delegated Regulation 2016/822 published in OJ

05/04/2016

Final Draft published

14/12/2015

Consultation published

23/02/2013

Delegated Regulation 153/2013 published in OJ

27/09/2012

Final Draft published

25/06/2012

Consultation published

16/02/2012

Other published

Search within this legal act

Synchronised with EUR-Lex on 22/12/2024

EMIR Tool Delegated Regulation 153/2013

Delegated Regulation 153/2013

Commission Delegated Regulation (EU) No 153/2013 of 19 December 2012 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on requirements for central counterparties (Text with EEA relevance)

CHAPTER I - GENERAL (Article 1)Article 1 - Definitions

CHAPTER II - RECOGNITION OF THIRD COUNTRY CCPs (Article 2)Article 2 - Information to be provided to ESMA for the recognition of a CCP

CHAPTER III - ORGANISATIONAL REQUIREMENTS (Article 3-11)Article 3 - Governance arrangements GL Article 4 - Risk management and internal control mechanisms GL Article 5 - Compliance policy and procedures GL Article 6 - Compliance function GL Article 7 - Organisational structure and separation of the reporting lines GL Article 8 - Remuneration policy Article 9 - Information technology systems GL Article 10 - Disclosure Article 11 - Internal auditing Q&A

CHAPTER IV - RECORD KEEPING (Article 12-16)Article 12 - General requirements Article 13 - Transaction records Q&A Article 14 - Position records Q&A Article 15 - Business records Article 16 - Records of data reported to a trade repository

CHAPTER V - BUSINESS CONTINUITY (Article 17-23)Article 17 - Strategy and policy GL Article 18 - Business impact analysis Article 19 - Disaster recovery Article 20 - Testing and monitoring Article 21 - Maintenance Article 22 - Crisis management Article 23 - Communication

CHAPTER VI - MARGINS (Article 24-28)Article 24 - Percentage Article 25 - Time horizon for the calculation of historical volatility Article 26 - Time horizons for the liquidation period Article 27 - Portfolio margining Q&A Article 28 - Procyclicality GL

CHAPTER VII - DEFAULT FUND (Article 29-31)Article 29 - Framework and governance Article 30 - Identifying extreme but plausible market conditions Q&A Article 31 - Reviewing extreme but plausible scenarios

CHAPTER VIII - LIQUIDITY RISK CONTROLS (Article 32-34)Article 32 - Assessment of liquidity risk Article 33 - Access to liquidity Article 34 - Concentration risk

CHAPTER IX - DEFAULT WATERFALL (Article 35-36)Article 35 - Calculation of the amount of the CCP’s own resources to be used in the default waterfall Q&A Article 36 - Maintenance of the amount of the CCP’s own resources to be used in the default waterfall

CHAPTER X - COLLATERAL (Article 37-42)Article 37 - General requirements Q&A Article 38 - Cash collateral Article 39 - Financial instruments Q&A Article 40 - Valuing collateral Article 41 - Haircuts Article 42 - Concentration limits

CHAPTER XI - INVESTMENT POLICY (Article 43-46)Article 43 - Highly liquid financial instruments Article 44 - Highly secured arrangements for the deposit of financial instruments Article 45 - Highly secured arrangements maintaining cash Q&A Article 45 - Concentration limits Q&A Article 46 - Non-cash collateral

CHAPTER XII - REVIEW OF MODELS, STRESS TESTING AND BACK TESTING (Article 47-62)

SECTION 1 - Models and programmes (Article 47-48)Article 47 - Model Validation Article 48 - Testing programmes

SECTION 2 - Back testing (Article 49)Article 49 - Back testing procedure

SECTION 3 - Sensitivity testing and analysis (Article 50)Article 50 - Sensitivity testing and analysis procedure

SECTION 4 - Stress testing (Article 51-54)Article 51 - Stress testing procedure Article 52 - Risk factors to stress test Article 53 - Stress testing total financial resources Article 54 - Stress testing liquid financial resources

SECTION 5 - Coverage and use of test results (Article 55-56)Article 55 - Maintaining sufficient coverage Article 56 - Review of models using test results

SECTION 6 - Reverse stress tests (Article 57)Article 57 - Reverse stress tests

SECTION 7 - Default procedures (Article 58)Article 58 - Testing default procedures

SECTION 8 - Validation and testing frequency (Article 59)Article 59 - Frequency

SECTION 9 - Time horizons used when performing tests (Article 60)Article 60 - The time horizons

SECTION 10 - Public disclosure (Article 61-62)Article 61 - Information to be publicly disclosed Article 62 - Entry into force and application

ANNEX I ANNEX II Q&A

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