[ESMA-SSM Cooperative Arrangement CCP ] Cooperative Arrangement on CCP supervisory cooperation – ESMA-SSM

ECB and ESMA have concluded a Cooperative Arrangement concerning the coordination and exchange of supervisory information related to CCPs and their participants. It emphasizes the principles of mutual respect and cooperation outlined in the Treaty on EU.
Within the legal framework, reference is made to the Treaty on EEU, the SSM Regulation, EMIR, and the ESMA Regulation. These regulations confer specific tasks on the ECB and ESMA related to the prudential supervision of credit institutions and the monitoring of market developments.
Professional secrecy obligations are highlighted, stating that both the ECB and ESMA are subject to such obligations. The document specifies the confidentiality regimes and obligations established by relevant EU laws.
The Cooperative Arrangement’s purpose is to formalize cooperation and information-sharing mechanisms between the authorities regarding CCPs and supervised entities. It aims to ensure the effective exchange of supervisory information for the performance of their respective tasks, while respecting legal constraints.
The exchange of supervisory information is detailed, emphasizing timely, need-to-know, and case-by-case basis sharing. Requests for information should be made in writing, providing specific details about the requested information.
Commitments to ongoing cooperation include conducting meetings, promoting cooperation through visits, and maintaining communication via designated contact persons.
In emergency situations, authorities commit to promptly informing each other about emerging crises or risks affecting CCPs or supervised entities and seeking coordinated responses, adhering to applicable legislation.
The document clarifies the status of the arrangement as a statement of intent that does not modify existing laws. It is without prejudice to other cooperation arrangements and can be supplemented with more specific memoranda of understanding. Once in effect, the authorities agree that the arrangement may be made publicly available, excluding information related to contact persons.