+Article 62 Partial transfers: protection of trading, clearing and settlement systems
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Article 62 Partial transfers: protection of trading, clearing and settlement systems
1. Overview
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Regulation |
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Article 62 1
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1. Member States shall ensure that the application of a resolution tool does not affect the operation of systems and rules of systems covered by Directive 98/26/EC, where the resolution authority does either of the following:
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(a)
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transfers some, but not all of the assets, rights or liabilities of an undertaking under resolution to another entity;
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(b)
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uses the ancillary powers referred to in Article 43 to cancel or amend the terms of a contract to which the undertaking under resolution is a party or to substitute a recipient as a party.
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Article 62 2
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2. A transfer, cancellation or amendment as referred to in paragraph 1 of this Article shall not:
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(a)
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revoke a transfer order in contravention of Article 5 of Directive 98/26/EC;
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(b)
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modify or negate the enforceability of transfer orders and netting as required by Articles 3 and 5 of Directive 98/26/EC, the use of funds, securities or credit facilities as required by Article 4 of that Directive or the protection of collateral security as required by Article 9 of that Directive.
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1.1 References
1.2 Identified Requirements
1.3 Related Standards
2. Identified Requirements
Requirements
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Requirement |
3. Related Standards
Standards
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Requirement |
- Builddate: 08.01.2025 00:00:00 -Doknr: CELEX:32025L0001
- EULAW -
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