Recital 27

(27) Central securities depositories should be able to provisionally retain a share not exceeding 10 % of the financial contribution in view of complying with statutory capital and risk management requirements in view of the impact due to the war in Ukraine with regard to the assets held by central securities depositories. If this share becomes insufficient in the future, it should be possible for a central securities depositoryto submit to the national supervisory authority a duly justified request to retain an additional percentage of the financial contribution due. The national supervisory authority should consult the Commission and, where appropriate, the European Central Bank and should take a decision accordingly. The national supervisory authority may approve the retention of an additional percentage only after having determined that it is strictly necessary to comply with risk management requirements in view of the impact due to the war in Ukraine with regard to the assets held by central securities depositories. The decision of the national supervisory authority to retain an additional percentage should become definitive unless the Commission decides, within a specified time limit, that the additional percentage does not comply with the relevant conditions. The Commission should consult the European Central Bank to that effect. The Commission should inform the Council of any decision of the national supervisory authority to retain an additional percentage. Where, at least four months after the adoption of such decision, the Commission considers, in the light of the most recent information, that the retention of an additional percentage is no longer strictly necessary to comply with risk management requirements, it should, after consulting the national supervisory authority and where appropriate, the European Central Bank, decide on a decrease of such additional percentage.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-17 · Text as adopted (Official Journal); later amendments are not incorporated in this text.