Recital 60

(60)To ensure consistency between Regulation (EU) 2017/1131 of the European Parliament and of the Council ¹⁸ and Regulation (EU) No 648/2012 and to preserve the integrity and stability of the internal market, it is necessary to lay down in Regulation (EU) 2017/1131 a uniform set of rules to address counterparty risk in financial derivative transactions performed by money market funds, where the transactions have been cleared by an authorised or recognised CCP. As central clearing arrangements mitigate counterparty risk that is inherent in financial derivative contracts, it is necessary to take into consideration whether a derivative has been centrally cleared by an authorised or recognised CCP when determining the applicable counterparty risk limits. It is also necessary for regulatory and harmonisation purposes to lift counterparty risk limits only where the counterparties use authorised or recognised CCPs to provide clearing services to clearing members and their clients.