(8)The discussions of the Working Group concluded that some transactions cleared in UK CCPs simply cannot be cleared elsewhere at this point in time and that a combination of different measures will be needed to develop the Union’s own clearing capacity and reduce Union market participants’ excessive exposures to systematically important UK CCPs in the years to come. In light of those discussions, the expiry date of Implementing Decision (EU) 2020/1308 is too soon in order to develop the Union’s clearing capacity to an adequate level. As the rationale for adopting that Decision has not changed, that is to avoid potential risks to financial stability in the event of an abrupt disruption in access of Union clearing members to UK CCPs, it is therefore necessary to adopt this Decision, which prolongs, for a limited period of time, the recognition that the regulatory framework applicable to central counterparties in the United Kingdom is equivalent to the framework established by Regulation (EU) No 648/2012.