Esma takes flak over vague CCP enhanced supervision plans
JP Morgan calls for more quantitative thresholds for determining systemic foreign CCPs
Draft plans from the European Securities and Markets Authority (Esma) on designating non-European central counterparties as subject to enhanced supervision – so-called tier two CCPs – are too vague, an executive director at JP Morgan has complained.
“[The tiering consultation suggests] what the indicators are for the European Commission to look at on how they assess a CCP [is a tier two CCP],” said Farida El-Gammal, an executive director of global clearing regulatory change at JP Morgan, at the
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