Recovery and resolution of CCPs: ECON Committee publishes amendments to legislative proposal

The ECON Committee has published a draft report setting out amendments to the proposed regulation on a framework for the recovery and resolution of central counterparties (CCPs).

Amongst other amendments, the draft report aims to improve the legal protection for the resolution authority should a decision be taken to accelerate the move from recovery to resolution. The ECON Committee believes that the resolution authority must have full discretion to use resolution tools, including those in the CCP rulebook, while addressing systemic problems and protecting taxpayers.