EBA · 2025_7316 Final Q&A

Counterparty classification of CCP

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
415, para. 3
Topic
Supervisory reporting - FINREP (incl. FB&NPE)
Submitted by
Individual
Submitted
2025-01-23
Answered
2025-03-14
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Question

Where counterparty sector breakdown applies, it is required more guidance on how to classify a CCP which have the banking license. For instance, in template F10, where should we report derivatives positions we have with a QCCP which at the same time is (i) a clearing house and (ii) a credit institution (included in the list of ECB’s supervised banks)? We face the ambiguity in classification in further reporting frameworks both supranational (e.g. G-SIB data collection exercise, FSB)  and local (i.e. Circolare 262 Banca d’Italia on Financial Statements).

Background

Treatment within counterparty sector breakdown of CCP which are credit institutions as well. According to chapter 6. “Counterparty breakdown” clearing houses fall within the definition of other financial corporation which differs from credit institutions.

Answer

Following the provisions in Section 6. “Counterparty breakdown” of Annex V, Part 1 of Commission Implementing Regulation (EU) 2021/451, if the qualifying Central Clearing Counterparty meets the definition in point (1) of Article 4(1) of Regulation (EU) No 575/2013 (‘undertaking the business of which is to take deposits or other repayable funds from the public and to grant credits for its own account’), it should be reported as 'Credit institution'.

Original source: European Banking Authority, Q&A ID 2025_7316

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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