Fresh delay for EU rules on CCP spillover losses
Recovery and resolution rules will miss the revised February delivery date
European rules on how to share out catastrophic losses at a clearing house have been postponed again, Risk.net has learned. The European Commission's (EC) recovery and resolution framework was set for publication in February, after missing its end-2015 target, but it will now be pushed back further, according to a well-placed source at one of Europe's national regulators.
The source speculates the hold-up is due to a disagreement between countries on what tools should be used to mop up excess
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