Hungarian Presidency published latest Council compromise text on EMIR
06 June 2011
Unresolved questions include whether to cover only OTC derivatives or all derivatives, and what role to give the European Securities and Markets Authority.
The trialogue meetings are still taking place and key outstanding issues are:
• an increasing emphasis on the reliability of central bank liquidity compared with that provided by commercial banks;
• an EU limitation has been placed on the definition of an intra-group derivative contract for financial counterparties; and
• a possible exemption of pension funds.
© European Council
