{
  "url": "https://openlegislation.uk/eu-regulation-2013-152/article-5",
  "json_url": "https://openlegislation.uk/eu-regulation-2013-152/article-5.json",
  "legislation": "eur/2013/152",
  "legislation_title": "Commission Delegated Regulation (EU) No 152/2013 of 19 December 2012 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on capital requirements for central counterparties (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2013-152",
  "path": "article/5",
  "kind": "article",
  "number": "5",
  "heading": "Capital requirements for business risk",
  "text": "1. The CCP shall submit to the competent authority for approval in accordance with that competent authority’s powers under Title III of Regulation (EU) No 648/2012 its own estimate of the capital necessary to cover losses resulting from business risk based on reasonably foreseeable adverse scenarios relevant to its business model.\n2. The capital requirement for business risk shall be equal to the approved estimate and shall be subject to a minimum amount of 25 % of its annual gross operational expenses. For the purposes of this Article, gross operational expenses shall be considered in accordance with Article 2(4).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2013/152/article/5",
    "retrieved_at": "2026-11-01T14:48:50.673209+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}