| The verification's subject | Yes | No |
|
Are your calculations carried out in each asset class separately?
|
|
If you have marked "no" in the table above, you are at risk of non-compliance. EMIR requires the positions' calculations versus clearing thresholds to be made in each asset class separately.
Use the table inserted below for verification.
| Derivatives' Asset Class |
Clearing Threshold Value (EUR gross notional) |
Position above the threshold* | Position below the threshold* |
|
credit
|
1 billion | ||
|
equity
|
1 billion | ||
|
interest rate
|
3 billion | ||
|
foreign exchange
|
3 billion | ||
|
commodity and other
|
Initially EUR 3 billion in gross notional value for OTC commodity derivative contracts and other OTC derivative contracts not defined under points (a) to (d) but under the Commission Delegated Regulation of 18.10.2022 amending the regulatory technical standards laid down in Delegated Regulation (EU) 149/2013 as regards the value of the clearing threshold for positions held in OTC commodity derivative contracts and other OTC derivative contracts adopted by the European Commission the clearing threshold value for positions held in OTC commodity derivatives is increased from EUR 3 billion to EUR 4 billion. |
* each applicable field mark with "yes" or "no"
If you have inserted "yes" in any of the above fields it may mean (provided other conditions are fulfilled) that you must clear all your OTC derivatives positions with the CCP.
Pursuant to the EMIR rules, the clearing obligation applies to all OTC derivatives contracts concluded after the clearing threshold was exceeded, irrespective of the asset class to which these OTC derivative contracts belong to.
Check the next step for verification.
