ESMA has published the results of its first EU-wide stress test CCPs, which was carried out in accordance with Article 21(6) of EMIR. The stress test was aimed at assessing the resilience and safety of 17 CCPs, including all authorised EU CCPs, for three dates in October, November and December 2014, with a focus on the counterparty credit risk that EU CCPs would face as a result of multiple clearing member defaults and simultaneous market price shocks. The results of the stress test show that the system of EU CCPs can overall be assessed as resilient to the stress scenarios used to model extreme but plausible market developments.