Regulation 211 Article 497 (own funds requirements for exposures to CCPs)

(1)

Article 497 (own funds requirements for exposures to CCPs) is amended as follows.

(2)

Omit paragraph 1.

(3)

In paragraph 2—

(a)

for the words “Until 15 months” to “Regulation (EU) No 648/2012” substitute “Until 15 December 2020”;

(b)

for “of that Regulation” insert “of Regulation (EU) No 648/2012”^f1.

(4)

In paragraph 4, for “paragraphs 1 and 2” substitute “paragraph 2”.

Annotations

f1: Regulation (EU) No. 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories.