1 . For the purposes of Article 308 of [F2Chapter 3 of the Counterparty Credit Risk (CRR) Part of the PRA Rulebook], a CCP shall report the following information to those of its clearing members which are institutions and to their competent authorities:
( a ) the hypothetical capital (K CCP );
( b ) the sum of pre-funded contributions (DF CM );
( c ) the amount of its pre-funded financial resources that it is required to use — by law or due to a contractual agreement with its clearing members — to cover its losses following the default of one or more of its clearing members before using the default fund contributions of the remaining clearing members (DF CCP );
F3( d ). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F4( e ). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Where the CCP has more than one default fund, it shall report the information in the first subparagraph for each default fund separately.
2 . The CCP shall notify those of its clearing members which are institutions at least quarterly or more frequently where required by the competent authorities of those clearing members.
3 .[F5The Bank of England, having consulted the PRA and the FCA, may make technical standards specifying] the following:
( a ) the uniform template for the purpose of the reporting specified in paragraph 1;
( b ) the frequency and dates of the reporting specified in paragraph 2;
( c ) the situations in which the competent authority of an institution acting as a clearing member may require higher frequencies of reporting than those referred to in point (b).
F6...
F6... ]]
Textual Amendments
F2Words in Art. 50c(1) substituted (1.1.2022) by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/1376), regs. 1(3), 24(7)(a)
F3Art. 50c(1)(d) omitted (1.1.2022) by virtue of The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/1376), regs. 1(3), 24(7)(b)
F4Art. 50c(1)(e) omitted (1.1.2022) by virtue of The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/1376), regs. 1(3), 24(7)(b)
F5Words in Art. 50c(3) substituted (31.12.2020) by The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 52(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F6Words in Art. 50c(3) omitted (31.12.2020) by virtue of The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 52(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
Editorial Information
X1Substituted by Corrigendum to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).
Textual Amendments