Statutory Instruments
2025 No. 1030
FINANCIAL SERVICES
The Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2025
Made
17th September 2025
Laid before Parliament
18th September 2025
Coming into force
28th November 2025
The Treasury make these Regulations in exercise of the powers conferred by Article 497(3) of of the European Parliament and of the Council of 26 June 2013 Regulation (EU) 575/2013on prudential requirements for credit institutions and investment firms and amending Regulation No 648/2012(1) (the “Capital Requirements Regulation”), and by regulation 18(2) of the Central Counterparties (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018(2) (the “CCP Regulations”).
The Treasury are satisfied that exceptional circumstances exist and that it is necessary and proportionate to extend the transitional provisions in Article 497(1) of the Capital Requirements Regulation in order to avoid disruption to international financial markets, and that it is necessary and proportionate to extend the temporary recognition period in regulation 18(1) of the CCP Regulations in order to avoid disruption to the financial stability of the United Kingdom.
Citation, commencement and extent
1.—(1) These Regulations may be cited as the Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2025.
(2) These Regulations come into force on 28th November 2025.
(3) These Regulations extend to England and Wales, Scotland and Northern Ireland.
Extension of the transitional period for third-country central counterparties under Article 497 of Regulation (EU) 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation No 648/2012
2. In Article 497 (own funds requirements for exposures to CCPs) of (Regulation (EU) 575/20133), the transitional period referred to in paragraph 1(b)(ii)(4) is extended by 12 months so that it ends six years after the date of the submission of the application.
Amendment to the Central Counterparties (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018
3. In regulation 18(1) (temporary deemed recognition period) of the Central Counterparties (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018(5), for “six years” substitute “seven years”.
Taiwo Owatemi
Anna Turley
Two of the Lords Commissioners of His Majesty’s Treasury
17th September 2025
EUR 2013/575, as amended by S.I. 2019/1232 and 2021/1078.
As amended by S.I. 2019/1232 and 2021/1078.
This transitional period was extended by S.I. 2022/1244 to end three years after the date of submission of the application, by S.I. 2023/999 to end four years after the date of submission of the application and by S.I. 2024/923 to end five years after the date of submission of the application.
As amended by S.I. 2020/56, 2022/1244, 2023/999 and 2024/923.