EACH to its own
February 1, 2018

The European Association of CCP Clearing Houses (EACH) has said it welcomes the progress made by the European Parliament's Committee on Economic and Monetary Affairs (ECON) to strengthen the European Commission legislative proposal on CCP (central counterparty) Recovery and Resolution.

Building on international work and the initial Commission proposal, with a clear structure on a flexible and comprehensive toolkit for CCPs, the work - led by MEPs Swinburne and von Weizsäcker, together with shadow MEPs Hübner, Nagtegaal/van Nieuwenhuizen, Scott-Cato, Viegas and the rest of their colleagues in ECON - has resulted in additional safeguards for financial stability, preserved the crucial incentives structure on which CCPs are based and ensured alignment with international standards.

EACH is particularly pleased that the European Parliament has added safeguards against the moral hazard which could potentially discourage commitment to a private sector solution in order to benefit from public bailout. It adds that it hopes that the Council of the EU will work in the same direction and that the legislative framework for CCP Recovery and Resolution will be in place shortly.





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The European Association of CCP Clearing Houses (EACH) has said it welcomes the progress made by the European Parliament's Committee on Economic and Monetary Affairs (ECON) to strengthen the European Commission legislative proposal on CCP (central counterparty) Recovery and Resolution.

Building on international work and the initial Commission proposal, with a clear structure on a flexible and comprehensive toolkit for CCPs, the work - led by MEPs Swinburne and von Weizsäcker, together with shadow MEPs Hübner, Nagtegaal/van Nieuwenhuizen, Scott-Cato, Viegas and the rest of their colleagues in ECON - has resulted in additional safeguards for financial stability, preserved the crucial incentives structure on which CCPs are based and ensured alignment with international standards.

EACH is particularly pleased that the European Parliament has added safeguards against the moral hazard which could potentially discourage commitment to a private sector solution in order to benefit from public bailout. It adds that it hopes that the Council of the EU will work in the same direction and that the legislative framework for CCP Recovery and Resolution will be in place shortly.



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