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CCP Supervisory Committee

CCP Supervisory Committee

The CCP Supervisory Committee (CCPSC) has been established under the European Market Infrastructure Regulation (EMIR), as amended by EMIR 2.2, as a permanent internal committee of ESMA, reporting to the Board of Supervisors, which remains the final decision-making body for all draft decisions prepared by the CCPSC.

Responsibilities

The CCPSC is responsible for a number of tasks in relation to CCPs established in the EU (EU-CCPs), in order to enhance supervisory convergence and ensure a resilient CCP landscape. It includes:

  • the preparation of opinions on draft decisions by a competent authority concerning the compliance of an EU-CCP with certain requirements of EMIR;
  • the annual peer review on the supervision of EU CCPs;
  • the annual ESMA CCP Stress Test; and
  • the preparation of decisions on the validation of significant changes to CCP risk models.

The CCPSC is also responsible for certain tasks in relation to CCPs established in third countries (TC-CCPs), as part of the new supervisory responsibilities for ESMA regarding TC-CCPs, with the objective to ensure an adequate monitoring and management of the risk they may pose to the EU. This relates, in particular, to the preparation of decisions regarding the recognition of TC-CCPs and the supervision of Tier 2 CCPs, including the tiering and comparable compliance assessments as well as the review of recognitions.

Composition

The CCPSC is composed of Klaus Löber, Chair, Nicoletta Giusto and Froukelien Wendt, independent members and the competent authorities of Member States with an authorised CCP (the voting members). It also includes certain central banks of issue (non-voting members) when the committee discusses certain topics in relation to TC-CCPs (decisions regarding the tiering of TC-CCPs and the supervision of Tier 2 CCPs) or when it discusses the ESMA CCP Stress Test.

While the Chair and Independent Members are subject to the conflicts of interest policy for ESMA Staff, the other CCPSC Members are subject to the Policy on Independence and Decision-Making Processes for avoiding Conflicts of Interest (Conflict of Interest Policy) for Non-Staff (ESMA22-328-402).

CCP Policy Committee

In order to ensure structural separation between the CCPSC and other functions referred to in the ESMA Regulation, the Board of Supervisors has established the CCP Policy Committee (CCPPC) dealing with the other tasks related to CCPs.

The CCPPC deals with the tasks related to the regulatory function on matters related to CCPs under EMIR or any other EU legislation, including the development of regulatory technical and implementing standards, the preparation of advice to the European Commission or the development of Q&As, Guidelines and Recommendations on CCP related matters.

Other CCP related committees may be added in the future, for instance in relation to CCP Recovery and Regulation.

Members of the CCP Supervisory Committee

Country

Authority Member/Alternate Conflict of Interests Policy declarations 

Chair and Independent Members 

EU ​ ESMA

Klaus Löber (Chair – Voting member)

Declaration of Interests*
Confidentiality Undertaking*
EU

 ESMA

Nicoletta Giusto
(Independent Member – Voting member)
Declaration of Interests*
Confidentiality Undertaking*
EU

 ESMA

Froukelien Wendt
(Independent Member – Voting member)
 

Declaration of Interests*
Confidentiality Undertaking*

 

Designated National Competent Authorities under Article 22 of EMIR

 

GermanyGermany 

Bundesanstalt für Finanzdienstleistungsaufsicht​ (Bafin)

​(Voting Member)

(Alternate)

Declaration of Interests

Declaration of Interests

GreeceGreece

Ελληνική Επιτροπή Κεφαλαιαγοράς (HCMC)

(Voting Member)

(Alternate)

Declaration of Interests

Declaration of Interests

SpainSpain

Comisión Nacional del Mercado de Valores (CNMV)

(Voting Member)

(Alternate)

Declaration of Interests

Declaration of Interests

FranceFrance 

Banque de France (BdF)

(Voting Member)

Declaration of Interests

 

Autorité des Marchés Financiers​ (AMF)

(Alternate)

(Voting Member)

Declaration of Interests

 

Autorité de contrôle prudentiel et de résolution
(ACPR)

(Alternate)

(Voting Member)

Declaration of Interests

ItalyItaly

Banca d'Italia (BdI)

(Voting Member)

Declarations of Interests 

 

Commissione Nazionale per le Società e la Borsa (CONSOB)

(Alternate)

(Voting Member)

Declarations of Interests

HungaryHungary

Magyar Nemzeti Bank ​(MNB)

(Voting Member)

(Alternate)

Declarations of Interests

Declarations of Interests

NetherlandsNetherlands

De Nederlandsche Bank​ (DNB)

(Voting Member)

Declarations of Interests

  Autoriteit Financiële Markten   (AFM)

(Alternate)

(Voting Member)

Declarations of Interests
AustriaAustria Finanzmarktaufsicht (FMA)

(Voting Member)

(Alternate)

Declarations of Interests

Declarations of Interests

PolandPoland Komisja Nadzoru Finansowego (KNF)

(Voting Member)

(Alternate)

Declarations of Interests

Declarations of Interests

PortugalPortugal Comissão do Mercado de Valores Mobiliários (CMVM)

(Voting Member)

(Alternate)

Declarations of Interests

Declarations of Interests

SwedenSweden Finansinspektionen (FI)

(Voting Member)

(Alternate)

Declarations of Interests

Declarations of Interests

 

Central Banks of Issue

 

EU European Central Bank (ECB)

(Non-voting Member)

**

DenmarkDenmark Danmarks Nationalbank (DN)

(Non-voting Member)

Declarations of Interests

PolandPoland

Narodowy Bank Polski (NBP)

(Non-voting Member) Declarations of Interests

SwedenSweden

Sveriges Riksbank (SR) (Non-voting Member) Declarations of Interests

* Declarations to be uploaded upon taking up position at ESMA

** ECB staff is subject to an equivalent ECB conflict of interest policy.