For the purposes of Article 46(1) of Regulation (EU) No 648/2012, highly liquid collateral in the form of cash shall be denominated in one of the following:
(a)
a currency for which the CCP can demonstrate to the competent authorities that it is able to adequately manage the risk;
(b)
a currency in which the CCP clears transactions, in the limit of the collateral required to cover the CCP’s exposures in that currency.