Press Release: Pension funds should benefit from a further two year exemption from central clearing requirements

On 3 February 2015 the European Commission published a report that recommended granting pension funds a two-year exemption from central clearing requirements for their over-the-counter (OTC) derivative transactions. The report, based on an extensive study requested by the European Commission, concluded that central counterparties (CCPs) needed to find solutions for pension funds. Ultimately, the objective stated was that pension scheme arrangements (PSAs) should use central clearing for their derivatives transactions, as in the case with other financial institutions.

ESO: Background information: Report from the Commission to the European Parliament and the Council under Article 85(2) of Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 http://www.europeansources.info/record/report-from-the-commission-to-the-european-parliament-and-the-council-under-article-852-of-regulation-eu-no-648-2012-of-the-european-parliament-and-of-the-council-of-4-july-2012-on-otc-derivatives/

---