Paragraph 13 EMIR

In Article 11 (risk-mitigation techniques for OTC derivative contracts not cleared by a CCP), in paragraph 15A^f1—

(a)

in point (a)—

(i)

for “Article 2(2) of the Securitisation Regulation” substitute “regulation 3(1) of the Securitisation Regulations 2024”;

(ii)

for “Article 2(1) of that Regulation” substitute “regulation 3(1) of those Regulations;

(b)

in point (b), for “the requirements set out in Article 18 and in Articles 19 to 22 or 23 to 26 of the Securitisation Regulation” substitute

“is—

(i)

an STS securitisation as defined in regulation 9 of the Securitisation Regulations 2024,

(ii)

an overseas STS securitisation as defined in regulation 12(2) of those Regulations, or

(iii)

a qualifying EU securitisation as defined in regulation 12(3) of those Regulations,”;

(c)

omit the words from “In the first subparagraph” to the end.

Annotations

Footnotes

f1: Paragraph 15A was inserted by S.I. 2019/660.