# Commission Delegated Regulation (EU) 2016/2251 of 4 October 2016 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to regulatory technical standards for risk-mitigation techniques for OTC derivative contracts not cleared by a central counterparty (Text with EEA relevance), Article 34: Applicable criteria on the practical impediments to the prompt transfer of own funds and repayment of liabilities

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

A practical impediment to the prompt transfer of own funds or repayment of liabilities between the counterparties as referred to in paragraphs 5 to 10 of Article 11 of Regulation (EU) No 648/2012 shall be deemed to exist where there are restrictions of a practical nature, including any of the following:
(a) insufficient availability of unencumbered or liquid assets to the relevant counterparty when due;
(b) impediments of an operational nature which effectively delay or prevent such transfers or repayments when due.

---
Source: https://www.legislation.gov.uk/eur/2016/2251/article/34 (the official version)
Page: https://openlegislation.uk/eu-regulation-2016-2251/article-34
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.