On 17 November 2022, the European Securities and Markets Authority (ESMA) published a final report containing guidelines on the types and content of the provisions of cooperation arrangements of the recovery and resolution of central counterparties (CCPs).
Some European CCPs provide services to clearing members and their clients located in third countries and some third-country CCPs provide services to clearing members and their clients located in the Union. In this regard, cooperation arrangements ensuring effective planning, decision making and coordination in respect of internationally active CCPs should be concluded with authorities. Therefore, Article 79(4) of the Regulation on a framework for the recovery and resolution of CCPs (CCPRRR) mandates ESMA to develop guidelines specifying the types and content of the provisions included in such cooperation arrangements.
On 19 May 2022, ESMA launched a public consultation on the draft guidelines with a deadline for responses of 1 August 2022. This final report assesses and takes into account, where suitable, the feedback provided by the three respondents to the consultation.
Furthermore, the final report presents guidelines specifying the types and content of the provisions included in the cooperation arrangements between authorities of member states and relevant third-country authorities.
The guidelines will apply after their publication by ESMA on its website in the official languages of the European Union.