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.

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.