bankruptcy remote
Defined in Article 300, Capital Requirements Regulation (CRR)
Definitions over time (2)
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29/06/2021 – today applies on 12/11/2026 Article 300, Capital Requirements Regulation (CRR) Scope: Part III Title II Chapter 6 Section 9
For the purposes of this Section and of Part Seven, the following definitions apply:
‘bankruptcy remote’, in relation to client assets, means that effective arrangements exist which ensure that those assets will not be available to the creditors of a CCP or of a clearing member in the event of the insolvency of that CCP or clearing member respectively, or that the assets will not be available to the clearing member to cover losses it incurred following the default of a client or clients other than those that provided those assets;
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28/06/2013 – 29/06/2021 Article 300, Capital Requirements Regulation (CRR) Scope: Part III Title II Chapter 6 Section 9
For the purposes of this Section, the following definitions shall apply:
‘bankruptcy remote’, in relation to client assets, means that effective arrangements exist which ensure that those assets will not be available to the creditors of a CCP or of a clearing member in the event of the insolvency of that CCP or clearing member respectively, or that the assets will not be available to the clearing member to cover losses it incurred following the default of a client or clients other than those that provided those assets;