Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-26-Speech-5-264-750"
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"en.20121026.23.5-264-750"2
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The European Market Infrastructure Regulation (EMIR) will, in the course of 2013, establish obligatory central clearing for a large proportion of derivatives. Clearing houses will increasingly concentrate on the risks previously posed by banks involved in over-the-counter trading. Only clearing houses with bank status will fall within the supervisory remit of the European Central Bank. There, too, it is a question of applying the principle of identical supervision for identical activities, and thus eventually including all clearing houses in the scope of the single supervisory mechanism. The plan to extend the scope of supervision to other sectors is neither realistic nor appropriate in the short term. However, in order to have the means in the long term, we must affirm our intention to do it now."@en1
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