# 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 (Text with EEA relevance), Article 1: Subject matter and scope

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

1. This Regulation lays down clearing and bilateral risk-management requirements for over-the-counter (‘OTC’) derivative contracts, reporting requirements for derivative contracts and uniform requirements for the performance of activities of central counterparties (‘CCPs’) and trade repositories.
2. This Regulation shall apply to CCPs and their clearing members, to financial counterparties and to trade repositories. It shall apply to non-financial counterparties and trading venues where so provided.
3. Title V of this Regulation shall apply only to transferable securities and money-market instruments, as defined in Articles 2(1)(24) and 2(1)(25A) of MIFIR.
4. This Regulation shall not apply to:
(a) the Bank of England and other public bodies in the United Kingdom charged with or intervening in the management of the public debt;
(b) the Bank for International Settlements;
(c) the central banks and public bodies charged with or intervening in the management of the public debt in the following countries:
(i) Japan;
(ii) United States of America ;
(iii) Australia;
(iv) Canada;
(v) Hong Kong;
(vi) Mexico;
(vii) Singapore;
(viii) Switzerland.
5. With the exception of the reporting obligation under Article 9, this Regulation shall not apply to the following entities:
(a) multilateral development banks, as listed under Article 117 of the Capital Requirements Regulation;
(b) public sector entities within the meaning of Article 4(1)(8) of the Capital Requirements Regulation where they are owned by central governments and have explicit guarantee arrangements provided by central governments;
(c) the European Financial Stability Facility and the European Stability Mechanism.
6. The Treasury may by regulations amend the list set out in paragraph 4 of this Article.

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Source: https://www.legislation.gov.uk/eur/2012/648/article/1 (the official version)
Page: https://openlegislation.uk/eu-regulation-2012-648/article-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.