CCP Resolution Committee

The CCP Resolution Committee (CCP ResCo) has been established following the entry into force of the CCP Recovery and Resolution Regulation (“CCPRRR”), as a permanent standing committee of ESMA.

Composition

In accordance with Article 5(2) of CCPRRR, the CCP Resolution Committee gathers all the CCP national resolution authorities designated pursuant to Article 3(1) of CCPRRR.

The CCP ResCo also includes as observers all the national competent authorities responsible for the supervision of EU banks, all the banking national resolution authorities, as well as the European Central Bank, the Single Resolution Board, and where relevant the European Commission and EU Council. 

The CCP ResCo is chaired by a Head of Department within ESMA, with the relevant experience and knowledge but selected outside the CCP Directorate, which is in charge inter alia of supervisory matters.

Regarding Ethics and Conflict of Interests, while the Chair is subject to the conflict of interest policy for ESMA Staff, the other CCP ResCo Members are subject to the Policy on Independence and Decision-Making Processes for avoiding Conflicts of Interest (Conflict of Interest Policy) for Non-Staff.

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Responsibilities

The CCP ResCo is responsible for preparing the decisions entrusted to ESMA in accordance with CCPRRR, promoting the drawing up and coordination of resolution plans, and developing methods for the resolution of failing EU CCPs.

The tasks of the CCP ResCo include in particular:

  • Preparing technical standards entrusted to ESMA to fulfil the single rule book in the area of EU CCPs resolution;
  • Proposing relevant measures, such as opinions, guidelines or recommendations where any lack of convergence has been identified in relation to resolution plans and methods for the resolution of failing EU CCPs;
  • Exchanging information on resolution practices also in areas where no common regulations, standards or guidelines, exist, with a view to identifying best resolution practices;
  • Contributing to the work of the CCP Supervisory Committee in the preparation of the conceptual framework for the assessments of the resilience of EU CCPs to adverse market developments, where relevant;
  • Assisting the resolution authorities in ensuring a convergent approach on the recognition and enforcement of third-country resolution proceedings and in relation to cooperation arrangements with third country authorities;
  • Providing input on resolution aspects within the framework of the Joint Committee of the European Supervisory Authorities.

▸ Terms of Reference

The decisions of the CCP ResCo are approved by the Board of Supervisors of ESMA without discussion.

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Chair

Sophie Vuarlot-Dignac has been appointed as the first Chair of the ESMA CCP Resolution Committee (CCP ResCo) in March 2023 for a two-year mandate.

Sophie Vuarlot-Dignac has over 20-year experience as a national and European financial regulator and supervisor, in prudential and financial markets’ areas. She began her career at the Banque de France in 1998. She worked for the Committee of European Banking Supervisors in London and held a number of managerial posts at the French Prudential Supervisory and Resolution Authority (ACPR) before joining ESMA in 2013. Sophie gained first-hand experience in CCP supervision as the representative of the French prudential supervisor at the LCH Clearnet college of supervisors in its early days; she built in-depth expertise in capital loss-absorbency instruments and mechanisms gained through CRD/CRR negotiations as the ACPR Head of International Affairs (Banking).

In her current capacity as Head of legal & Enforcement at ESMA, Sophie is in charge of overseeing the provision of legal advice and review of ESMA policy work (all technical standards and guidelines). In this capacity, she is also responsible for mediation, a relevant field for the CCP ResCo, as well as for Ethics and Data Protection matters, which provide her with assurances of independence in the exercise of her missions.

Last, Sophie has a long experience of steering policy or convergence groups, directly or indirectly, at EBA’s predecessor (CEBS), the Joint Committee of the ESAS and ESMA (Review Panel / SCSC / Enforcement working group / ACP).

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Members

Country Authority Member/Alternate
Austria

 Austria

Austrian Financial Market Authority (FMA / Finanzmarktaufsicht) Oliver Schütz (Member)
Thomas Pillichshammer (Alternate)
Belgium

 Belgium

National Bank of Belgium (NBB) Grégory Nguyen (Member)
Sara Pauwels (Alternate)
Bulgaria

 Bulgaria

Bulgarian FSC Petar Dzelepov (Member)
Yordanka Ushagelova (Alternate)
Maria Emanuilova (Alternate)
Croatia

 Croatia

Croatian Financial Services Supervisory Agency (HANFA) Ksenija Milošević (Member)
Anamarija Staničić (Alternate)
Cyprus

 Cyprus

Central Bank of Cyprus Panayiotis Vlamis (Member)
Georgios Andreou (Alternate)
Czech Republic

 Czechia

Czech National Bank (CNB / Ceska Narodni Banka) Radek Urban (Member)
Denmark

 Denmark

Danish Financial Supervisory Authority (Danish FSA / Finanstilsynet) Marinó Örn Ólafsson (Member)
Marcus Aleksander Wiinstedt Clausen (Alternate)
Estonia

 Estonia

Financial Supervision Authority (Finantsinspektsioon) Kerli Valdre (Member)
Finland

 Finland

Finnish Financial Stability Authority (Rahoitusvakausvirasto) Anni-Mari Karvinen (Member)
Harri Hämäläinen (Alternate)
France

 France

Prudential Supervisory and Resolution Authority (ACPR / Autorité de Contrôle Prudentiel et de Résolution) Mathieu Gex (Member)
Ben Konaré (Alternate)
Germany

 Germany

Federal Financial Supervisory Authority (BaFin / Bundesanstalt für Finanzdienstleistungsaufsicht) Stephanie Danker (Member)
Peter Schmitt (Alternate)
Greece

 Greece

Hellenic Capital Market Commission (Επιτροπή Κεφαλαιαγοράς) Christina Verra (Member)
Hungary

 Hungary

Hungarian National Bank (Nemzeti Bank) Antal Stréda (Member)
Krisztina Mohácsi (Alternate)
Ireland

 Ireland

Central Bank of Ireland Hugo Slevin (Member)
Italy

 Italy

Bank of Italy (Banca d'Italia) Roberto Cercone (Member)
Loretta Frettoni (Alternate)
Latvia

 Latvia

Bank of Latvia (Latvijas Banka) Jeļena Ļebedeva (Member)
Liene Bergholde (Alternate)
Lieschtenstein

 Liechtenstein

Financial Market Authority Liechtenstein (Finanzmarktaufsicht) Thomas Stern (Member)
Julia Klingler (Alternate)
Lithuania

 Lithuania

Bank of Lithuania (Lietuvos Bankas) Ingrida Večerskytė (Member)
Gabriele Bieliunaite (Alternate)
Luxembourg

 Luxembourg

Commission for the Supervision of Financial Sector (Commission de Surveillance du Secteur Financier) Joëlle Martiny (Member)
Markus Pokorni (Alternate)
Malta

 Malta

Malta Financial Services Authority (MFSA) Christian Buttigieg (Member)
Mellyora Ellul (Alternate)
Netherlands

  Netherlands

The Netherlends Bank (De Nederlandsche Bank) Arlette Westdorp (Member)
Josine Steggink (Alternate)
Poland

 Poland

Polish Bank Guarantee Fund (Bankowy Fundusz Gwarancyjny) Karolina Zawilska (Member)
Jakub Zaleski (Alternate)
Romania

 Romania

Financial Supervisory Authority (FSA Romania / Autoritatea de Supraveghere Financiară) Iulian Lupu (Member)
Spain

 Spain

National Securities Market Commission (Comision Nacional de Mercado de Valores - CNMV) María José Gómez Yubero (Member)
Maribel Herrero (Alternate)
Sweden

 Sweden

Swedish National Debt Office (Riksgälden) Anna Lidberg (Member)
Mattias Fransson (Alternate)
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Observers

Country Authority Observer/Alternate
Bulgaria

 Bulgaria

Bulgarian National Bank (BNB / Българска народна банка) Emilia Dimitrova (Observer)
Vergil Lazarov (Alternate)
Croatia

 Croatia

Croatian National Bank (Hrvatska Narodna Banka) Lidija Pranjić (Observer)
Domagoj Đerek (Alternate)
Finland

 Finland

Finnish Financial Supervisory Authority (Fin-FSA / Finanssivalvonta)  Jukka Laitinen (Observer)
Jenni Koskinen (Alternate)
France

 France

Prudential Supervisory and Resolution Authority (ACPR / Autorité de Contrôle Prudentiel et de Résolution) Enda Palazzeschi (Observer)
Haroun Monjoin (Alternate)
Germany

 Germany

Deutsche Bundesbank Dirk Schrade (Observer)
Johannes Kaiser (Alternate)
Poland

 Poland

Polish Financial Supervision Authority (Komisja Nadzoru Finansowego) Martyna Jędroszyk (Observer)
Jan Abramowski (Alternate)
Romania

 Romania

National Bank of Romania (Banca Naţională a României) Alexandru Dobrev (Observer)
Claudiu Negrea (Alternate)
Spain

 Spain

Bank of Spain (Banco de España) Ramiro Mombiela (Observer)
Virginia Serrano (Alternate)
Spanish Executive Resolution Authority (FROB) Jorge Rodellar (Observer)
María Hormaeche (Alternate)
Sweden

 Sweden

Financial Supervisory Authority (Finansinspektionen) Erik Willers (Observer)
Oliver Bakic (Alternate)
EU European Banking Authority Francesco Mauro (Observer)
EU European Central Bank (ECB) Martin Scheicher (Observer)
Juha Ojansivu (Alternate)
EU EU Commission Heinrich Wollny (Observer)
Florentijn Kloosterman (Alternate)
EU Single Resolution Board (SRB) Pedro Machado (Observer)
Nadège Jassaud (Alternate)
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