3.

For the purposes of point (a) of paragraph 1, a CCP shall be deemed to be failing or likely to fail where one or more of the following circumstances apply: the CCP infringes, or is likely to infringe, its authorisation requirements in a way that would justify the withdrawal of its authorisation pursuant to Article 20 of Regulation (EU) No 648/2012; the CCP is unable, or is likely to be unable, to provide a critical function; the CCP is unable, or is likely to be unable, to restore its viability through the implementation of its recovery measures; the CCP is unable, or is likely to be unable, to pay its debts or other liabilities as they fall due; the CCP requires extraordinary public financial support.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-12 · Text as adopted (Official Journal); later amendments are not incorporated in this text.