art_45__para_4__text_1 EMIR — REGULATION (EU) No 648/2012 OF THE EUROPEAN PARLIAMENT AND…

art_45__para_4__text_1

EMIR

REGULATION (EU) No 648/2012 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (Text with EEA relevance) · European Union

A CCP shall use dedicated own resources before using the default fund contributions of non-defaulting clearing members. A CCP shall not use the margins posted by non-defaulting clearing members to cover the losses resulting from the default of another clearing member.

← (4) · All articles · (5) →

Source: EUR-Lex (Cellar) · retrieved 2026-09-25 · Text as adopted (Official Journal); later amendments are not incorporated in this text.