# Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending Directive 2014/59/EU as regards the loss-absorbing and recapitalisation capacity of credit institutions and investment firms and Directive 98/26/EC, Article 2: Amendments to Directive 98/26/EC

Extent: E+W+S+N.I.

Directive 98/26/EC is amended as follows:
(1) Article 2 is amended as follows:
(a) point (c) is replaced by the following:
(c) ‘“central counterparty” or “CCP” shall mean a CCP as defined in point (1) of Article 2 of Regulation (EU) No 648/2012;’;
(b) point (f) is replaced by the following:
(f) ‘“participant” shall mean an institution, a central counterparty, a settlement agent, a clearing house, a system operator or a clearing member of a CCP authorised pursuant to Article 17 of Regulation (EU) No 648/2012;’;
(2) the following Article is inserted:
‘Article 12a By 28 June 2021, the Commission shall review how Member States apply this Directive to their domestic institutions which participate directly in systems governed by the law of a third country and to collateral security provided in connection with participation in such systems. The Commission shall assess in particular the need for any further amendments to this Directive with regard to systems governed by the law of a third country. The Commission shall submit a report thereon to the European Parliament and the Council, accompanied where appropriate by proposals for revision of this Directive.’.

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Source: https://www.legislation.gov.uk/eudr/2019/879/article/2 (the official version)
Page: https://openlegislation.uk/eu-directive-2019-879/article-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.