Recital 45

(45)ESMA should also, where comparable compliance is granted, regularly assess the continued compliance by Tier 2 CCPs with the conditions for their recognition through comparable compliance, by monitoring CCPs’ compliance with the requirements set out in Article 16 and Titles IV and V under Commission Delegated Regulation (EU) 2020/1304 ¹⁶ . In undertaking that assessment, ESMA should, in addition to receiving the relevant information and confirmations from the Tier 2 CCPs, cooperate and agree on administrative procedures with the third-country authority to ensure that ESMA has the relevant information to monitor that the conditions for comparable compliance are complied with and, to the extent possible, reduce the administrative and regulatory burden for those Tier 2 CCPs.