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Updated 21/12/2024

Metadata

In force since 04/01/2017

Version from: 14/02/2023

References (8)

EBA webpage on this legal act

eba.europa.eu/regulatory-technical-standards-risk-mitigation-techniques-otc-derivatives-not-cleared-central

eba.europa.eu/legacy/regulation-and-policy/regulatory-activities/market-infrastructures/regulatory-technical

Timeline

20/12/2023

Final Draft published

18/12/2023

Final Draft published

18/12/2023

Final Draft published

13/02/2023

Amendment: Delegated Regulation 2023/314 published in OJ

13/06/2022

Final Draft published

04/05/2021

Final Draft published

17/02/2021

Amendment: Delegated Regulation 2021/236 published in OJ

23/11/2020

Final Draft published

23/11/2020

Final Draft published

04/05/2020

Final Draft published

04/05/2020

Final Draft published

27/03/2020

Amendment: Delegated Regulation 2020/448 published in OJ

19/12/2019

Final Draft published

05/12/2019

Final Draft published

05/12/2019

Final Draft published

05/12/2019

Final Draft published

10/04/2019

Amendment: Delegated Regulation 2019/564 published in OJ

13/03/2019

Amendment: Delegated Regulation 2019/397 published in OJ

12/12/2018

Final Draft published

27/11/2018

Final Draft published

27/11/2018

Final Draft published

04/05/2018

Consultation published

18/12/2017

Final Draft published

18/12/2017

Final Draft published

18/12/2017

Final Draft published

25/02/2017

Amendment: Delegated Regulation 2017/323 published in OJ

15/12/2016

Delegated Regulation 2016/2251 published in OJ

09/03/2016

Final Draft published

09/03/2016

Final Draft published

08/03/2016

Final Draft published

08/03/2016

Final Draft published

08/03/2016

Final Draft published

08/03/2016

Final Draft published

10/06/2015

Consultation published

10/06/2015

Consultation published

14/05/2014

Consultation published

14/04/2014

Consultation published

14/04/2014

Consultation published

14/04/2014

Consultation published

Search within this legal act

Synchronised with EUR-Lex on 22/12/2024

EMIR Tool Delegated Regulation 2016/2251

Delegated Regulation 2016/2251

Commission Delegated Regulation (EU) 2016/2251 of 4 October 2016 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to regulatory technical standards for risk-mitigation techniques for OTC derivative contracts not cleared by a central counterparty (Text with EEA relevance)

CHAPTER I - GENERAL PROVISIONS ON RISK MANAGEMENT PROCEDURES (Article 1-22)

SECTION 1 - Definitions and general requirements (Article 1-3)Article 1 - Definitions Article 2 - General requirements Article 3 - Exchange of collateral agreement

SECTION 2 - Eligibility (Article 4-8)Article 4 - Eligible collateral Article 5 - Eligibility criteria for units or shares in UCITS Article 6 - Credit quality assessment Article 7 - Specific requirements for eligible assets Article 8 - Concentration limits for initial margin

SECTION 3 - Calculation and collection of margins (Article 9-13)Article 9 - Frequency of calculation and determination of the calculation date Article 10 - Calculation of variation margin Article 11 - Calculation of initial margin Article 12 - Provision of variation margin Article 13 - Provision of initial margin

SECTION 4 - Initial margin models (Article 14-18)Article 14 - General requirements Article 15 - Confidence interval and MPOR Article 16 - Calibration of the parameters of the model Article 17 - Diversification, hedging and risk offsets across underlying classes Article 18 - Qualitative requirements

SECTION 5 - Collateral management and segregation (Article 19-20)Article 19 - Collateral management and segregation Article 20 - Treatment of collected initial margins

SECTION 6 - Valuation of collateral (Article 21-22)Article 21 - Calculation of the adjusted value of collateral Article 22 - Own estimates of the adjusted value of collateral

CHAPTER II - SPECIFIC PROVISIONS ON RISK MANAGEMENT PROCEDURES (Article 23-31a)

SECTION 1 - Exemptions (Article 23-26)Article 23 - CCPs authorised as credit institutions Article 24 - Non-financial counterparties and third-country counterparties Article 25 - Minimum transfer amount Article 26 - Margin calculation with third-country counterparties

SECTION 2 - Exemptions in calculating levels of initial margin (Article 27-29)Article 27 - Foreign exchange contracts Article 28 - Threshold based on notional amount Q&A Article 29 - Threshold based on initial margin amounts

SECTION 3 - Exemptions from the requirement to post or collect initial or variation margin (Article 30-31a)Article 30 - Treatment of derivatives associated to covered bonds for hedging purposes Q&A Article 30a - Treatment of derivatives in connection with securitisations for hedging purposes Article 31 - Treatment of derivatives with counterparties in third countries where legal enforceability of netting agreements or collateral protection cannot be ensured Article 31a - Treatment of physically settled foreign exchange forwards and physically settled foreign exchange swaps

CHAPTER III - INTRAGROUP DERIVATIVE CONTRACTS (Article 32-34)

SECTION 1 - Procedures for counterparties competent authorities when applying exemptions for intragroup derivative contracts (Article 32)Article 32 - Procedures for counterparties and relevant competent authorities Q&A

SECTION 2 - Applicable criteria for applying exemptions for intragroup derivative contracts (Article 33-34)Article 33 - Applicable criteria on the legal impediment to the prompt transfer of own funds and repayment of liabilities Article 34 - Applicable criteria on the practical impediments to the prompt transfer of own funds and repayment of liabilities

CHAPTER IV - TRANSITIONAL AND FINAL PROVISIONS (Article 35-40)Article 35 - Transitional provisions Article 36 - Application of 9(2), Article 11, Articles 13 to 18, points (c), (d) and (f) of Article 19(1), Article 19(3) and Article 20 Article 37 - Application of Articles 9(1), 10 and 12 Article 38 - Dates of application for specific contracts Article 39 - Calculation of aggregate average notional amount Article 40 - Entry into force

ANNEX I ANNEX II ANNEX III ANNEX IV

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