Subject Matter
Resolution colleges
Question
In accordance with Article 4(2)(c) of CCP RRR, competent authorities and resolution authorities of clearing members referred to in Article 18(2)(c) of EMIR should be voting members of the resolution college. Art. 18(2)(c) of EMIR refers to the three Member States with the largest contributions to the default fund of the CCP. Where not all clearing members of the CCP are subject to supervision by competent authorities, should the calculation exclude default fund contributions from not supervised clearing members?