The Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2022

These Regulations extend transitional provisions provided for in Regulation (EU) 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012 (the “Capital Requirements Regulation”) and the Central Counterparties (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018 (the “CCP Regulations”).

Lifecycle

Department

Made

28 Nov 2022

—

In force

22 Dec 2022

Enabling power

The Treasury is satisfied that it is necessary and proportionate to extend the transitional provisions in paragraph 1 of Article 497 of the Capital Requirements Regulation in order to avoid disruption to international financial markets, and that it is necessary and proportionate to extend the temporary recognition period in regulation 18(1) of the CCP Regulations in order to avoid disruption to the financial stability of the United Kingdom.

DocumentsOpen on legislation.gov.uk →

Explanatory Memorandum

UK Explanatory Memorandum

application/pdf · 30 Nov 2022 · 64 KB

Instrument

application/pdf · 30 Nov 2022 · 36 KB