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

fair value

Definitions over time (1)

29/08/2023 – today applies on 12/11/2026 Article 1, Commission Delegated Regulation (EU) 2023/1616 Scope: Whole act

For the purposes of this Regulation, the following definitions apply:

‘fair value’ means the price that would be received for the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the valuation date, as defined in the relevant accounting framework;