Commission Delegated Regulation (EU) 2023/1616 of 3 May 2023 supplementing Regula... (32023R1616)
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Commission Delegated Regulation (EU) 2023/1616 of 3 May 2023 supplementing Regulation (EU) 2021/23 of the European Parliament and of the Council with regard to regulatory technical standards specifying the circumstances in which a person is deemed to be independent from the resolution authority and from the central counterparty, the methodology for assessing the value of assets and liabilities of a central counterparty, the separation of the valuations, the methodology for calculating the buffer for additional losses to be included in provisional valuations, and the methodology for carrying out the valuation for the application of the ‘no creditor worse off’ principle (Text with EEA relevance)
- COMMISSION DELEGATED REGULATION (EU) 2023/1616
- of 3 May 2023
- supplementing Regulation (EU) 2021/23 of the European Parliament and of the Council with regard to regulatory technical standards specifying the circumstances in which a person is deemed to be independent from the resolution authority and from the central counterparty, the methodology for assessing the value of assets and liabilities of a central counterparty, the separation of the valuations, the methodology for calculating the buffer for additional losses to be included in provisional valuations, and the methodology for carrying out the valuation for the application of the ‘no creditor worse off’ principle
- (Text with EEA relevance)
- CHAPTER I
- General provisions
- Article 1
- Definitions
- CHAPTER II
- Independence of valuers
- Article 2
- Elements of independence
- Article 3
- Material common or conflicting interests
- Article 4
- Qualifications, experience, ability, knowledge and resources
- Article 5
- Structural separation
- CHAPTER III
- Methodology for assessing the value of the assets and liabilities of the CCP before and after resolution
- Section 1
- General provisions applicable to valuations under Article 24 and Article 26(1) of Regulation (EU) 2021/23
- Article 6
- General criteria
- Article 7
- Valuation date
- Article 8
- Sources of information
- Article 9
- Impact of group arrangements
- Article 10
- Impact of interoperability arrangements
- Article 11
- Valuation report
- Section 2
- Criteria for the carrying out of valuations for the purposes of Article 24(2) of Regulation (EU) 2021/23
- Article 12
- General principles
- Article 13
- Areas requiring particular attention in the valuation
- Article 14
- Factors affecting the valuation
- Section 3
- Criteria for the carrying out of valuations for the purposes of Article 24(3) and Article 26(1), second subparagraph, of Regulation (EU) 2021/23
- Article 15
- General principles
- Article 16
- Selection of the measurement basis
- Article 17
- Specific factors relating to the estimation and discounting of expected cash flows
- Article 18
- Methodology for calculating and including a buffer for additional losses
- CHAPTER IV
- Separation of the valuation under resolution and valuation for the application of the ‘no creditor worse off’ principle and methodology for carrying out the valuation for the application of the ‘no creditor worse off’ principle
- Article 19
- General provisions
- Article 20
- Inventory of assets and claims
- Article 21
- Steps of the valuation
- Article 22
- Determination of the treatment of shareholders and creditors under normal insolvency proceedings
- Article 23
- Direct replacement costs incurred by the clearing members under normal insolvency proceedings
- Article 24
- Determination of the actual treatment of shareholders and creditors in resolution
- Article 25
- Valuation report
- Article 26
- Entry into force
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