The European Association of CCP Clearing Houses (EACH) has urged regulators not to turn fresh guidance on CCP business risks into binding standards, warning it could clash with existing EU rules.
Responding to a CPMI–IOSCO consultation on financial market infrastructures’ management of general business risks and losses, EACH said European CCPs already hold capital and reserves proportionate to non‑default risks, and have systems in place to mitigate them.
The group stressed that the guidance should remain principles‑based, not quantitative, and highlighted that governance committees, consultations with participants and existing disclosures already provide transparency.
EACH also underlined that CCPs are prepared for orderly wind‑down scenarios, but insisted that the measures should not disrupt long‑standing practices.
