Commission Delegated Regulation (EU) 2025/1493 of 11 June 2025 amending Commission Delegated Regulation (EU) No 876/2013 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council as regards changes to the functioning and management of colleges for central counterparties

‘1 Following the notification that an application contains the documents and information required as referred to in Article 17(2), first subparagraph, point (a), of Regulation (EU) No 648/2012, the CCP’s competent authority shall circulate a proposal for the written agreement under Article 18(5) of that Regulation to the members of the college determined in accordance with Article 18(2) of that Regulation. That written agreement shall include a process for the review of the composition of the college at least on an annual basis. It shall also include an amendment process whereby changes may be initiated at any time by the CCP’s competent authority or by other members of the college, subject to approval by the college in accordance with the procedure set out in this Article.’

‘3 Where the members of the college express comments regarding the proposal for the written agreement circulated pursuant to paragraph 1, they shall submit those comments together with a thorough explanation to the co-chairs within 10 calendar days. Where relevant, the co-chairs shall agree on and prepare a revised proposal and convene a meeting to agree on, and adopt, the final written agreement taking into account the deadline referred to in Article 18(1) of Regulation (EU) No 648/2012.’

‘4a Competent authorities as referred to in Article 18(2), point (ca), of Regulation (EU) No 648/2012, and central banks of issue as referred to in Article 18(2), point (i), of that Regulation that wish to participate in the college shall submit a reasoned request to the CCP’s competent authority. The CCP’s competent authority shall, within 20 calendar days of the receipt of the request, either provide the requesting competent authority or central bank with a copy of the written agreement for review and approval, or substantiating in writing why the request has been rejected. The CCP’s competent authority shall inform the members of the college of any such requests and their respective outcome.’

‘1 Where a request for information is made to a college by a competent authority of a Member State which is not a member of the college in accordance with Article 18(3) of Regulation (EU) No 648/2012, the co-chairs, after having consulted the college, shall decide on the most appropriate way to provide and request information to and from the authorities that are not members of the college.

2 Each member of the college shall designate one participant to attend the meetings of the college and may designate one alternate, with the exception of the co-chairs which may require additional participants who shall have no voting rights.’

‘1 The co-chairs shall ensure that the work of the college facilitates the tasks to be performed in accordance with Regulation (EU) No 648/2012.’

‘4 To ensure the efficiency and effectiveness of the college, the co-chairs shall act as a central point of contact for any matter related to the practical organisation of the college and keep each other informed. The co-chairs shall at least perform the following tasks: (a) draw-up, update and circulate the contact list of members of the college; (b) prepare and circulate the agenda and documentation for meetings or activities of the college; (ba) discuss the implementation of the annual supervisory priorities referred to in Article 24a(7), point (ba), of Regulation (EU) No 648/2012; (c) record minutes of the meetings and formalise action points; (d) manage the college website, if any; (e) where necessary, provide information and specialised teams where appropriate, to assist the college in its tasks; (f) share all information in a timely and appropriate manner among members of the college. For the purposes of point (b), the co-chairs shall circulate a draft agenda for each meeting of the college, other than for meetings called in emergency situations, well in advance of each meeting, in order to enable the members of the college to contribute to the setting of the agenda, in particular by adding points to the agenda. The agenda shall be finalised by the co-chairs and distributed to members of the college sufficiently in advance of a meeting of the college. The co-chairs and other members of the college shall distribute any information to be considered at a meeting of the college well in advance of the meeting. For the purposes of point (c), the CCP’s competent authority shall distribute the minutes of meetings to members of the college once those minutes are agreed by the co-chairs and as soon as practicable following the meetings and shall give members of the college sufficient time to comment.

5 The co-chairs shall determine the frequency of college meetings having regard to the CCP’s size, nature, scale and complexity, the systemic implications of the CCP across jurisdictions and currencies, the potential impacts of the activities of the CCP, external circumstances and potential requests by members of the college. There shall be at least an annual meeting of the college and if deemed necessary by the co-chairs, a meeting each time that a decision is to be taken under Regulation (EU) No 648/2012. The co-chairs shall organise, periodically, and at least annually, meetings between members of the college and the senior management of the CCP. Members of the college may request that the co-chairs hold a meeting of the college. The co-chairs shall duly provide reasons for any rejection of such request.’

‘7 The co-chairs shall endeavour to ensure that each college meeting has a valid quorum for decisions to be taken. Where a quorum is not met, the co-chairs shall ensure that any decisions that need to be taken are postponed until a quorum is present, taking into account the relevant time limits set out in Regulation (EU) No 648/2012.

8 The college may vote by written procedure, where proposed by the co-chairs or at the request of a member of the college.’

‘1 Each member of a college shall provide, in a timely manner, the co-chairs with all information necessary for the operational functioning of the college and for the performance of the key activities in which that member participates. The co-chairs shall provide the members of the college with similar information in a timely manner.’

‘4 The CCP’s competent authority’s draft decisions, reports or other measures referred to in Article 17(3), Article 17b(2) and Article 49(1d) of Regulation (EU) No 648/2012 shall be submitted to the college within an appropriate timescale to ensure that members of the college are able to review it and contribute to the college opinion.

5 Members of the college shall exchange all information through the central database provided by Article 17c of Regulation (EU) No 648/2012.’

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.