ESAs consult on EMIR: The ESAs have launched a second, limited consultation on Regulatory Technical Standards (RTS) on risk mitigation techniques for OTC derivatives contracts that are not centrally cleared under EMIR. Although most decisions on the content have been made following the first consultation, the ESAs seek views on some outstanding issues. The RTS cover:

  • general counterparties’ risk management procedures;
  • margin methods;
  • eligibility and treatment of collateral;
  • operational procedures; and
  • procedures concerning intragroup derivative contracts.

The new consultation includes a draft of the RTS, marked to show proposed changes and giving the reasons for them. The ESAs will hold a public hearing in London on 18 June and ask for comment on the proposals by 10 July. (Source: ESAs Consult on EMIR)