The European Union’s finance ministries are nearing a deal on the draft legal text for central clearing counterparty (CCP) resolution. But they still disagree on the use of CCPs’ own funds in a recovery scenario, as well as on voting rights for smaller states in a resolution college.
EU member states aim to finalise a deal on the common CCP resolution framework — a file that is supposed to prevent the collapse of these critical market infrastructures — by mid-December. The framework would force CCPs to draw up draft plans for a failure scenario
, specifying how
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