Consultation on guarantees as CCP collateral and on certain aspects of CCP investment policy

https://www.esma.europa.eu/press-news/consultations/consultation-guarantees-ccp-collateral-and-certain-aspects-ccp-investment
Success
Service Clearing and Settlement Infrastructures 85% Payment Network System 45%
Specialism Operational Resilience 65% Supervision 55%
2026-02-23 14:47:56 · adavies@vixio.com
ID
2899406
GUID
50570548e53e527ea8c3bb222b419453

Classification

Service
Clearing and Settlement Infrastructures (85%)

The consultation directly addresses central counterparty (CCP) collateral and investment policy, which are core functions of clearing and settlement infrastructure.

Payment Network System (45%)

Low confidence — requires human review. While CCPs support payment system resilience, this consultation focuses on securities clearing rather than payment-specific settlement systems like CHAPS or RTGS.

Specialism
Operational Resilience (65%)

The consultation addresses CCP collateral and investment policy, which relates to operational resilience and system stability of European clearing infrastructure, though the focus is on market infrastructure rather than payment-specific firms.

Supervision (55%)

Low confidence — requires human review. While CCPs are part of the broader financial infrastructure ecosystem, this consultation is primarily about securities clearing rather than payment services regulation, making it tangential to the payments compliance taxonomy.

Responding to this paper  ESMA invites comments on all matters in this paper and in particular on the specific questions summarised in Annex 1. Comments are most helpful if they: respond to the question stated; indicate the specific question to which the comment relates; contain a clear rationale; and describe any alternatives ESMA should consider. ESMA will consider all comments received by 30 April 2026.  All contributions should be submitted online under the relevant consultation.

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TITLE: European Securities and Markets Authority Launches Consultation on Central Counterparty Collateral and Investment Policy BODY: On 23 February 2026, the European Securities and Markets Authority (ESMA) launched a consultation on guarantees as central counterparty (CCP) collateral and on certain aspects of CCP investment policy. The consultation invites comments from all interested stakeholders, with particular focus on central counterparties, clearing members, and clients of CCPs, including non-financial counterparties. The consultation seeks stakeholder feedback on specific matters outlined in the consultation paper, with respondents encouraged to address the questions summarised in Annex 1. ESMA is seeking responses that clearly reference the specific question being addressed, provide detailed rationale for comments, and identify any alternative approaches that should be considered. The consultation covers the use of guarantees as collateral within CCP arrangements and aspects of how CCPs manage their investment portfolios, both areas of significance for the functioning and resilience of European clearing infrastructure. All contributions must be submitted online by 30 April 2026. Following the close of the consultation period, ESMA will publish all responses received unless respondents request otherwise. Respondents wishing to keep their submissions confidential should clearly indicate this in their submission, though standard confidentiality statements in email messages will not be treated as confidentiality requests. Personal data contained in submissions will be published as submitted unless respondents choose not to have their response published on the ESMA website. **Reference:** ESMA Consultation Paper ESMA91-1505572268-4513, available at https://www.esma.europa.eu/
  • ✓ Scraped:2026-02-23 14:47:56
  • ✓ Created:2026-02-23 14:47:55
  • ✓ By:adavies@vixio.com (41)