Banks’ exposure to CCPs : Deadline extended

The European Commission decided , on 4 June, to extend until 15 December 2015 the transition period for capital requirements for banks exposed to non-qualifying central counterparties - CCPs. CCPs are institutions that aim to ensure the smooth functioning of financial operations. In order to be considered as ‘qualifying’ in the EU, CCPs must be authorised (CCPs in the EU) or recognised (CCPs outside the EU). The authorisation or recognition process will not be completed before the end of the…