Do not follow this hidden link or you will be blocked from this website !

CRR: EU Parliament adopts proposal on exemptions for commodity dealers

18/05/2016 Clifford Chance Visiter le site source

The EU Parliament has adopted the proposed regulation regarding exemptions for commodity dealers under the Capital Requirements Regulation (CRR) at first reading.

Articles of the CRR exempting commodity dealers from large exposures requirements and own funds requirements are scheduled to expire on 31 December 2017. The deadline was set in order to allow regulators to determine a prudential regulation adapted to the risk profile of commodity dealers, although it now appears unlikely that any resulting legislation from a review by the EU Commission, which is not expected to be completed before the end of the year, will be drafted and adopted before the exemption expires. The proposed regulation therefore extends the existing exemptions in the CRR to 31 December 2020 to take into account the amount of time that will be necessary to conclude the review and to prepare, adopt and apply any legislation that may result from it.

The proposal will now be forwarded to the EU Council, the Commission and national parliaments.