6 Amendments of Norbert GLANTE related to 2010/0250(COD)
Amendment 37 #
Proposal for a regulation
Article 3 – paragraph 1 – subparagraph 2 a (new)
Article 3 – paragraph 1 – subparagraph 2 a (new)
The clearing obligation pursuant to the above subparagraphs shall not apply to OTC derivative contracts concluded by a financial counterparty or a non-financial counterparty with its parent undertaking, a subsidiary, or a subsidiary of its parent undertaking.
Amendment 49 #
Proposal for a regulation
Article 7 – paragraph 2 – subparagraph 1
Article 7 – paragraph 2 – subparagraph 1
2. Where a non-financial counterparty takes net positions and exposures in OTC derivative contracts exceeding the clearing threshold to be determined pursuant to paragraph 3(b), it shall be subject to the clearing obligation set out in Article 3 with regard to all its eligible OTC derivative contracts. that exceed the clearing threshold on 90 consecutive days.
Amendment 54 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 1 – point b a (new)
Article 7 – paragraph 3 – subparagraph 1 – point b a (new)
(ba) criteria for establishing whether OTC derivative contracts are objectively measurable as directly linked to a non-financial counterparty’s commercial activity.
Amendment 57 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 1 a (new)
Article 7 – paragraph 3 – subparagraph 1 a (new)
These regulatory technical standards shall take into account existing legislation and generally accepted standards and audit procedures.
Amendment 58 #
Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 2
Article 7 – paragraph 3 – subparagraph 2
Those thresholds shall be determined taking into account the systemic relevance of the sum of net positions and exposures by counterparty per class of OTC derivatives. The systemic relevance of the sum of net positions and exposures for OTC derivatives shall be determined on the basis of appropriate quantitative and qualitative criteria for each class. In particular, credit risk exposures in connection with contracts with systemically relevant financial institutions shall be taken into account.
Amendment 67 #
Proposal for a regulation
Article 8 – paragraph 1 – subparagraph 2 a (new)
Article 8 – paragraph 1 – subparagraph 2 a (new)
The obligations under points (a) and (b) shall only apply to non-financial institutions that are subject to the clearing obligation pursuant to Article 7(2), and only from the date on which the clearing obligation starts.