Each, the European Association of Central Counterparty Clearing Houses, has published its Supplementary Risk Recommendations.
This document is the result of work undertaken by EACH risk experts since the finalisation of the ESCB-CESR Recommendations and provides further guidance concerning voluntary enhancements to CCPs' risk management.
The preparing of these Recommendations demonstrates EACH's strong commitment to improving risk standards and contribute to the regulatory process at this crucial time. EACH produced the first set of agreed Risk standards in 2001, pre-dating both the CPSS-IOSCO and ESCB-CESR documents, and this text continues that leading role. Not all of these Recommendations may be relevant to all CCPs.
EACH and its members will continue to work closely with the European Commission, ESCB-CESR, CPSS-IOSCO and supervisory authorities to further refine and develop international standards and contribute to legislative proposals.
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