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Recital 7

Recital 7

(7)Considering moreover the amendments to Regulation (EU) No 648/2012 adopted by the European Parliament and the Council, which will have entered into force before this Decision ceases to apply, any potential further decision will take into account financial market conditions and developments, as well as the exposure of clearing members and clients established in the Union to the concentration risk posed by CCPs established in the United Kingdom. In the event that such exposure is considered to be detrimental to the financial stability of the Union, any potential further Decision might seek to mitigate the systemic risk to the Union by limiting the access of those clearing members and clients to certain products, activities or services provided by CCPs established in the United Kingdom. To this end, the Commission plans to make its intention known at the latest, six months before the expiry date.

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