Leading Pan-European Clearing House

EuroCCP Dedicated Own Resources

James McNulty
May 31, 2022

As required under EMIR, article 9.1.2 (b) of EuroCCP’s Clearing Rule Book provides that EuroCCP will apply its dedicated own financial resources in the event of a Clearing Participant default prior to using clearing fund contributions of non-defaulting Clearing Participants.

Regulation Dedicated Own Resources sets out that EuroCCP must determine the amount of the dedicated own financial resources on a yearly basis in the month following the month in which the annual report for the prior year is approved, by multiplying the minimum required capital by 25%.

The minimum capital requirement for determining dedicated own financial resources is the minimum capital required by EuroCCP pursuant to the regulatory technical standards for central counterparties (Regulation EU 152/2013).

For the purpose of this calculation, EuroCCP has used its audited statement of profit or loss for the year ended 31 December 2021 and unaudited statement of financial position as at 30 April 2022. On the basis of the foregoing, EuroCCP’s dedicated own financial resources amounts to EUR 7.392.218,97. This amount will apply until a new amount is determined in accordance with the aforementioned Regulation.

 Should you have any further queries, please do not hesitate to contact EuroCCP finance department ([email protected]).