Extension of the transitional period for third-country central counterparties under Article 497 of Regulation (EU) 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation No. 648/2012

2.  In Article 497 (own funds requirements for exposures to CCPs) of Regulation (EU) 575/2013(1), the transitional period referred to in paragraph 1(b)(ii)(2) is extended by 12 months so that it ends four years after the date of the submission of the application.

(1)

As amended by S.I. 2019/1232, 2021/1078 and 2022/1244.

(2)

This transitional period was extended by S.I. 2022/1244 to end three years after the date of submission of the application.