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07 February 2011

ITRE committee draft opinion on OTC derivatives, central counterparties and trade repositories


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Berichterstatter Ivailo Kalfin (S&D,BG) hat insgesamt 20 Abänderungsvorschläge zum Kommissionsentwurf eingereicht. In der Begründung drückt er sein Verständnis für die Anliegen von Nicht-Finanzinstituten aus.


With a view to concentrate on the need to minimize the systemic risk that may be created by OTC derivatives, the rapporteur suggests to fine tune the provisions related to the nonfinancial companies trying to both assure an appropriate regulation of their OTC derivative trades and to moderate the administrative burden of the regulators and the corporate sector.
 
The suggested amendments cover:

• make some definitions more clear;
• facilitate some procedures;
• help avoiding "clearing shocks" and other disproportionate burdens to the businesses;
• suggest the cancellation of the information threshold, considering that the clearing threshold provides sufficient assurance;
• introduce more coherent and transparent criteria, related to regulatory decisions;
• make clear the procedures when classifying and declassifying OTC derivatives and counterparties as eligible for clearing.
 
 



© European Parliament


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