On December 12, amendments to the European Market Infrastructure Regulations (EMIR), known as “EMIR 2.2”, were published in the Official Journal of the European Union, which is available here. This means that, as expected, the provisions of EMIR 2.2 will become effective on January 1, 2020. EMIR 2.2 is different from EMIR REFIT, which become effective on June 17.

The main change introduced by EMIR 2.2 is the introduction of two tiers to categorize third-country central counterparties (TC-CCPs). This and other changes introduced by EMIR 2.2 were explored in more detail in the November 15 edition of the Corporate & Financial Weekly Digest.