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期货和衍生品行业监管动态

under EMIR.

Intragroup contracts

The bilateral margin Delegated Regulation, and the clearing obligation Delegated

Regulations, originally introduced temporary exemptions for intragroup contracts

with third-country group entities, to facilitate centralised risk management-procedures

for groups. These exemptions provided a temporary solution in parallel to the

assessment period for the relevant equivalence decisions under EMIR’s permanent

exemption framework.

The ESAs are of the view that a review of the EMIR framework for intragroup

exemptions for contracts with third countries, and its interaction with the Capital

Requirements Regulation (CRR), would be desirable, and the scheduled upcoming
review of EMIR offers this opportunity. As the current temporary exemptions regime

expires on 30 June 2022, and in order to avoid any negative consequences, the draft
RTS propose extending the temporary regime by three years.

Next steps

The ESAs have now submitted these draft RTS to the European Commission for

endorsement. Following this, they are then subject to non-objection by the European

Parliament and the Council.

In view of the time for the approval process, the ESAs have published a

statement to provide clarification for this period.

https://www.esma.europa.eu/press-news/esma-news/esas-propose-extending-temporar

y-exemptions-regime-intragroup-contracts-during

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