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Recital 33

Recital 33

(33)In order to ensure the proper involvement of central bank(s) of issue of all Union currencies of the financial instruments cleared or to be cleared by third-country CCPs in the recognition of Tier 2 CCPs, ESMA, when recognising such CCPs, should take into account their compliance with specific requirements that those central banks of issue may have imposed in the carrying out of their monetary policy tasks. Those requirements should relate to the submission of information to the central bank(s) of issue upon its reasoned request, the cooperation of CCPs with the central bank(s) of issue in the context of the assessment of the CCP's resilience to adverse market developments carried out by ESMA, the opening of an overnight deposit account with the central bank(s) of issue and requirements in exceptional situations that the central bank(s) of issue considers necessary. The access criteria and requirements of central bank(s) of issue for opening an overnight deposit account should not amount to an obligation to relocate all or part of the clearing services of the CCP.

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