Version in force , Modified +192 −20§
Amended by Regulation (EU) 2019/2033 32019R2033 on EUR-Lex (external, EUR-Lex) · Regulation (EU) 2019/876 32019R0876 on EUR-Lex (external, EUR-Lex) · Regulation (EU) 2021/558 32021R0558 on EUR-Lex (external, EUR-Lex) · Regulation (EU) 2020/873 32020R0873 on EUR-Lex (external, EUR-Lex)
Explanation, written by a model and checked against the cited text
The article heading and introductory wording were adjusted, removing the word 'pre-funded' from the title and rephrasing the description of an institution acting as a clearing member.
Point (b) now covers both pre-funded and unfunded contributions to the default fund of a non-qualifying CCP, whereas before it covered only pre-funded contributions.
A new point (c) was added requiring calculation of the own funds requirement for unfunded contributions to the default fund of a QCCP in accordance with Article 310.
Cited: Art. 307, v1 (external, EUR-Lex) · Art. 307, v2 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, before and after
Previous version, in force 28 December 2020 02013R0575-20201228 → this version, in force 28 June 2021 02013R0575-20210629
Article 307
Own funds requirements for pre-funded contributions to the default fund of a CCP
An institution acting that acts as a clearing member shall apply the following treatment to its exposures arising from its contributions to the default fund of a CCP:
(a) it shall calculate the own funds requirement for its pre-funded contributions to the default fund of a QCCP in accordance with the approach set out in Article 308;
(b) it shall calculate the own funds requirement for its pre-funded and unfunded contributions to the default fund of a non-qualifying CCP in accordance with the approach set out in Article 309. 309;
(c) it shall calculate the own funds requirement for its unfunded contributions to the default fund of a QCCP in accordance with the treatment set out in Article 310.