EMIR

• EMIR
  • Recital
  • TITLE I SUBJECT MATTER, SCOPE AND DEFINITIONS
    • Article 1 Subject matter and scope
    • Article 2 Definitions
    • Article 2a Equivalence decisions for the purposes of the definition of OTC derivatives
    • Article 3 Intragroup transactions
  • TITLE II CLEARING, REPORTING AND RISK MITIGATION OF OTC DERIVATIVES
    • Article 4 Clearing obligation
    • Article 4a Financial counterparties that are subject to the clearing obligation
    • Article 5 Clearing obligation procedure
    • Article 6 Public register
    • Article 6a Suspension of clearing obligation
    • Article 7 Access to a CCP
    • Article 8 Access to a trading venue
    • Article 9 Reporting obligation
    • Article 10 Non-financial counterparties
    • Article 11 Risk-mitigation techniques for OTC derivative contracts not cleared by a CCP
    • Article 12 Penalties
    • Article 13 Mechanism to avoid duplicative or conflicting rules
    • Article 13a Amendments to legacy contracts for the purpose of the implementation of benchmark reforms
  • TITLE III AUTHORISATION AND SUPERVISION OF CCPs
    • CHAPTER 1 Conditions and procedures for the authorisation of a CCP
      • Article 14 Authorisation of a CCP
      • Article 15 Extension of activities and services
      • Article 16 Capital requirements
      • Article 17 Procedure for granting and refusing authorisation
      • Article 18 College
      • Article 19 Opinion of the college
      • Article 20 Withdrawal of authorisation
      • Article 21 Review and evaluation
    • CHAPTER 2 Supervision and oversight of CCPs
      • Article 22 Competent authority
    • CHAPTER 3 Cooperation
      • Article 23 Cooperation between authorities
      • Article 23a Supervisory cooperation between competent authorities and ESMA with regards to authorised CCPs
      • Article 24 Emergency situations
    • CHAPTER 3A CCP Supervisory Committee
      • Article 24a CCP Supervisory Committee
      • Article 24b Consultation of central banks of issue
      • Article 24c Decision making within the CCP Supervisory Committee
      • Article 24d Decision making within the Board of Supervisors
      • Article 24e Accountability
    • CHAPTER 4 Relations with third countries
      • Article 25 Recognition of a third-country CCP
      • Article 25a Comparable compliance
      • Article 25b Ongoing compliance with the conditions for recognition
      • Article 25c Third-country CCP college
      • Article 25d Fees
      • Article 25e Exercise of the powers referred to in Articles 25f to 25h
      • Article 25f Request for information
      • Article 25g General investigations
      • Article 25h On-site inspections
      • Article 25i Procedural rules for taking supervisory measures and imposing fines
      • Article 25j Fines
      • Article 25k Periodic penalty payments
      • Article 25l Hearing of the persons concerned
      • Article 25m Disclosure, nature, enforcement and allocation of fines and periodic penalty payments
      • Article 25n Review by the Court of Justice
      • Article 25o Amendments to Annex IV
      • Article 25p Withdrawal of recognition
      • Article 25q Supervisory measures by ESMA
  • TITLE IV REQUIREMENTS FOR CCPs
    • CHAPTER 1 Organisational requirements
      • Article 26 General provisions
      • Article 27 Senior management and the board
      • Article 28 Risk committee
      • Article 29 Record keeping
      • Article 30 Shareholders and members with qualifying holdings
      • Article 31 Information to competent authorities
      • Article 32 Assessment
      • Article 33 Conflicts of interest
      • Article 34 Business continuity
      • Article 35 Outsourcing
    • CHAPTER 2 Conduct of business rules
      • Article 36 General provisions
      • Article 37 Participation requirements
      • Article 38 Transparency
      • Article 39 Segregation and portability
    • CHAPTER 3 Prudential requirements
      • Article 40 Exposure management
      • Article 41 Margin requirements
      • Article 42 Default fund
      • Article 43 Other financial resources
      • Article 44 Liquidity risk controls
      • Article 45 Default waterfall
      • Article 45a Temporary restrictions in the case of a significant non-default event
      • Article 46 Collateral requirements
      • Article 47 Investment policy
      • Article 48 Default procedures
      • Article 49 Review of models, stress testing and back testing
      • Article 50 Settlement
    • CHAPTER 4 Calculations and reporting for the purposes of Regulation (EU) No 575/2013
      • Article 50a Calculation of KCCP
      • Article 50b General rules for the calculation of KCCP
      • Article 50c Reporting of information
      • Article 50d Calculation of specific items to be reported by the CCP
  • TITLE V INTEROPERABILITY ARRANGEMENTS
    • Article 51 Interoperability arrangements
    • Article 52 Risk management
    • Article 53 Provision of margins among CCPs
    • Article 54 Approval of interoperability arrangements
  • TITLE VI REGISTRATION AND SUPERVISION OF TRADE REPOSITORIES
    • CHAPTER 1 Conditions and procedures for registration of a trade repository
      • Article 55 Registration of a trade repository
      • Article 56 Application for registration
      • Article 57 Notification of and consultation with competent authorities prior to registration
      • Article 58 Examination of the application
      • Article 59 Notification of ESMA decisions relating to registration
      • Article 60 Exercise of the powers referred to in Articles 61 to 63
      • Article 61 Request for information
      • Article 62 General investigations
      • Article 63 On-site inspections
      • Article 64 Procedural rules for taking supervisory measures and imposing fines
      • Article 65 Fines
      • Article 66 Periodic penalty payments
      • Article 67 Hearing of the persons concerned
      • Article 68 Disclosure, nature, enforcement and allocation of fines and periodic penalty payments
      • Article 69 Review by the Court of Justice
      • Article 70 Amendments to Annex II
      • Article 71 Withdrawal of registration
      • Article 72 Supervisory fees
      • Article 73 Supervisory measures by ESMA
      • Article 74 Delegation of tasks by ESMA to competent authorities
    • CHAPTER 2 Relations with third countries
      • Article 75 Equivalence and international agreements
      • Article 76 Cooperation arrangements
      • Article 76a Mutual direct access to data
      • Article 77 Recognition of trade repositories
  • TITLE VII REQUIREMENTS FOR TRADE REPOSITORIES
    • Article 78 General requirements
    • Article 79 Operational reliability
    • Article 80 Safeguarding and recording
    • Article 81 Transparency and data availability
    • Article 82 Exercise of the delegation
  • TITLE VIII COMMON PROVISIONS
    • Article 83 Professional secrecy
    • Article 84 Exchange of information
  • TITLE IX TRANSITIONAL AND FINAL PROVISIONS
    • Article 85 Reports and review
    • Article 86 Committee procedure
    • Article 87 Amendment to Directive 98/26/EC
    • Article 88 Websites
    • Article 89 Transitional provisions
    • Article 90 Staff and resources of ESMA
    • Article 91 Entry into force
  • ANNEX I - List of infringements referred to in Article 65(1)
  • ANNEX II - List of the coefficients linked to aggravating and mitigating factors for the application of Article 65(3)
  • ANNEX III List of infringements referred to in Article 25j(1)
  • ANNEX IV List of the coefficients linked to aggravating and mitigating factors for the application of Article 25j(3)