The ESRB report concludes that CCP interoperability arrangements can have systemic risk implications and sets out requirements for Inter-CCP exposures to avoid contagion from the default of an interoperable CCP. Exposures must be properly monitored by NCAs, a sound risk management framework must be in place in relation to exposures and they must be backed by adequate financial resources.

EU Commission consultation on non-binding guidelines on disclosure of non-financial information by certain large companies

The EU Commission are currently seeking views on developing a methodology for forthcoming non-binding guidelines, which will be introduced to assist large public-interest entities with over 500 employees (listed companies and banks are given as examples) on reporting non-financial and diversity information. The information envisaged to be disclosed includes social and environmental information.

The deadline for submissions is 15 April 2016.