Updated 18/09/2024
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Article 3 - Summary of material changes

Article 3

Summary of material changes

When preparing a summary of material changes to the resolution plan in accordance with Article 12(7), point (b), of Regulation (EU) 2021/23, the resolution authority shall ensure that the resolution plan includes material changes concerning at least the following elements:

(a)

the markets where the CCP operates, the business lines considered core to the CCP, and the clearing services offered by the CCP;

(b)

the interoperability arrangements of the CCP or the interdependencies of the CCP, including the service providers of the CCP;

(c)

the capital and capital structure of the CCP, including the amounts of pre-funded dedicated own resources;

(d)

the prudential requirements of the CCP, including changes in the default fund methodologies, margin and liquidity risk management frameworks, investment policies, collateral policies and settlement;

(e)

the non-prudential requirements of the CCP, including organisational aspects such as organisational structure, business continuity and outsourcing, and material changes to the CCP’s conduct of business rules, including the composition of the CCP’s membership and changes regarding segregation and portability;

(f)

the structure of the CCP’s ownership and managers’ incentive structures;

(g)

the resolution scenarios and resolution strategies.