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Commission Delegated Regulation (EU) 2023/1616

Preamble
Recitals 31
Chapter I - General provisions (Article 1) 1
Chapter II - Independence of valuers (Article 2-5) 4
Chapter III - Methodology for assessing the value of the assets and liabilities of the CCP before and after resolution (Article 6-18) 13
Chapter IV - Separation of the valuation under resolution and valuation for the application of the ‘no creditor worse off’ principle and methodology for carrying out the valuation for the application of the ‘no creditor worse off’ principle (Article 19-26) 8

Recital 6

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Recital 6

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(6)Independence of the valuer can be reinforced by conditions ensuring that the expertise and resources of the valuer are sufficient and appropriate. It is therefore necessary to ensure that the valuer possesses the necessary qualifications, experience, ability and knowledge in all relevant subjects, including the valuations of the financial instruments cleared by the CCP, the applicable CCP requirements under Regulation (EU) No 648/2012 of the European Parliament and of the Council ² , existing CCP recovery plans and rulebooks, and applicable resolution tools under Regulation (EU) 2021/23.

2 Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories ( OJ L 201, 27.7.2012, p. 1 ). ↩

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