Contents
3.For interest rate OTC derivatives denominated in euro, the reference period referred to in Article 7a(4), fifth subparagraph, first sentence, of Regulation (EU) No 648/2012 shall be:
(a)one month for counterparties with a notional clearing volume outstanding of more than EUR 100 billion in derivative contracts;
(b)six months for counterparties with a notional clearing volume outstanding of less than EUR 100 billion in derivative contracts.
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