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The European Banking Authority (EBA) launched an open consultation on Draft Regulatory Technical Standards (RTS) on the capital requirements for central counterparties (CCPs). These RTS are drafted according to the Regulation on OTC derivative transactions, central counterparties and trade repositories (EMIR). The consultation runs until 31 July 2012. The EMIR Regulation requires CCPs to collect margins, to maintain a pre-funded default fund and to maintain dedicated own resources to cover their losses upon the default of one of their clearing members. Additional capital is also required under Article 16 to mitigate, on the one hand, against market risk, credit risk and counterparty credit risk arising from non-covered activities and, on the other hand, against operational risk arising...
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