EU EMIR definition

EU EMIR means the EU Regulation specified in Part 4 of the Schedule to the Regulations under the heading “European Markets Infrastructure Regulation”;

EU EMIR means the EU Regulation specified in Part 4 of the Schedule to the Regulations under the heading “European Markets Infrastructure Regulation”, as it forms part of domestic law by virtue of section 3 of the 2018 Act;

EU EMIR means Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories dated 4 July 2012.

Examples of EU EMIR in a sentence

• If the Issuer's counterparty status as an NFC- changes then the Issuer may become subject to greater obligations under EU EMIR including the Clearing Obligation (as such term is defined below).

• Lower capital requirements for cleared trades are only available if the central counterparty is recognised as a 'qualifying central counterparty', which has been authorised or recognised under EMIR (in accordance with related binding technical standards).Pursuant to EMIR, counterparties can be classified as: (i) financial counterparties ("FCs") (which, following changes made by EU EMIR Refit 2.1, includes a sub-category of small FCs ("SFCs")), and(ii) non-financial counterparties ("NFCs").

• EU EMIR and the requirements under it impose certain obligations on parties to "over the counter" derivative contracts including (i) a mandatory clearing obligation for certain standardised OTC derivatives contracts, (ii) a margin posting obligation for OTC derivatives contracts not subject to clearing, (iii) other risk-mitigation techniques for OTC derivatives contracts not cleared by a central counterparty, and (iv) certain reporting and record-keeping requirements.

• No assurances can be given that any future changes to EU EMIR would not cause the status of the Issuer to change and lead to an increased regulatory burden on the Issuer in respect of its hedging arrangements.

• As previously flagged, several respondents indicated that ongoing costs relating to Proposal 1A would increase significantly if UK EMIR diverged materially from EU EMIR and the proposals ESMA published in its December 2020 final report.

• Following the UK’s exit from the EU, and the end of the Transition Period, we have on shored the EU EMIR reporting requirements, making changes only where necessary to allow the Regulation to function in a UK context.

• This G20 recommendation was originally implemented for UK counterparties through legislation under the EU European Market Infrastructure Regulation (EU EMIR).

• However, while UK EMIR will be most important to the Clearing House, the third-country CCP provisions in EU EMIR will continue to apply to the Clearing House and certain other sections of the remainder of EU EMIR may be relevant to the extent necessary to retain the Clearing House’s recognition by ESMA under the Commission Decision determining, for a limited period of time, the UK’s regulatory framework for CCPs to be equivalent (Commission Implementing Decision (EU) 2020/1308 of 21 September 2020).

• The PRA proposes to exercise the power in regulation 3 of the Regulations to modify the EU EMIR.

• Feedback from industry supports this assumption, indicating that there are synergies with the implementation of the proposals presented in this consultation and work already underway or likely required to implement ESMA’s proposed changes to the EU EMIR derivatives reporting regime.

More Definitions of EU EMIR

EU EMIR means Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC Derivatives, Central Counterparties, and Trade Repositories, as amended from time to time

EU EMIR means the Regulation (EU) No 648/2012 of the European Parliament and the Council of 4 July 2012 on OTC Derivatives, Central Counterparties and Trade Repositories (as amended, varied or supplemented from time to time) and any technical guidelines and regulatory technical standards, further regulations, official guidance or official rules of procedures with respect thereto;

EU EMIR means Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories;