ESMA has published a peer review report on how national competent authorities (NCAs) assess compliance by CCPs with the margin and collateral requirements under EMIR. The review identifies a number of areas where there is a lack of consistency in the supervisory approaches of NCAs, including differences in the frequency and depth of the supervision of CCPs that are similar in terms of size, systemic importance, nature and complexity. ESMA also identified differing supervisory approaches regarding the frequency and proactivity of NCAs' assessments and reviews of margin requirements. ESMA has proposed key recommendations to improve consistency in its report and also sets out good practice examples that emerged during the review.