Recital 20

(20) To ensure that competent authorities are at all times aware of exposures at entity and group level and are able to monitor such exposures, competent authorities should establish effective cooperation procedures to calculate the positions in contracts not cleared at an authorised or recognised CCP and to actively evaluate and assess the level of exposure in OTC derivative contracts at entity and group level. In order for ESMA to have an overall picture of the activity in OTC derivatives of non-financial counterparties established in the Union, as well as their parent undertakings, the authorities responsible for those non-financial counterparties and parent undertakings should report to ESMA on a regular basis. Such reporting should not replicate the information already submitted by means of other reporting requirements set out in Regulation (EU) No 648/2012, but instead provide information on the evolution of the portfolios of those non-financial counterparties between two reporting dates, as well as an assessment of the risks to which such counterparties might be exposed. Authorities responsible for non-financial counterparties that are part of a group should cooperate in order to minimise the reporting burden and assess the intensity and type of activity in OTC derivatives of those non-financial counterparties.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-16 · Text as adopted (Official Journal); later amendments are not incorporated in this text.