Title III, Chapter II, Section 2, Section 3, Article 38, Paragraph 5. · Commission Delegated Regulation (EU) 2017/390

Contents

1. For the purposes of point (e) of Article 59(4) of Regulati…
10. Where a concentration limit towards its liquidity provider…
11. The CSD-banking service provider shall ensure that the col…
12. Where assets used as collateral by the CSD-banking service…
13. The CSD-banking service provider shall take all necessary…
14. The CSD-banking service provider shall be capable of acces…
2. Where a CSD-banking service provider plans to establish a…
3. After a prearranged and highly reliable funding arrangemen…
4. The CSD-banking service provider shall closely monitor and…
5. The CSD-banking service provider's liquidity risk manageme…
6. A CSD-banking service provider which has access to routine…
7. The CSD-banking service provider shall continuously monito…
8. The CSD-banking service provider shall review its policies…
9. In the context of its reporting to the relevant competent…

5.The CSD-banking service provider's liquidity risk management framework shall include a requirement to establish concentration limits, providing the following:

(a)that the concentration limits are established by currency;

(b)that at least two arrangements for each major currency are put in place;

(c)that the CSD-banking service provider is not overly reliant on any individual financial institution, when all currencies are taken into account.

For the purposes of point (b) major currencies shall be considered to be at least the top 50 % of the most relevant currencies as determined in accordance with Article 36(8). Where a currency has been determined as a major currency, it shall continue to be considered as major for a period of three calendar years from the date of its determination as major currency.