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Book V - Market infrastructures
Title IV - Clearing houses
Chapter I - Common provisions
Section 8 - Default procedures
Article 541-36 from 16/06/2014

Article 541-36 into force since

  • Version into force since
ELI : /en/eli/fr/aai/amf/rg/article/541-36/20140616/notes

The operating rules of the clearing house stipulate, in the event of the default of one or several clearing members:

  1. The order of use of the financial resources at their disposal to cover the losses incurred in accordance with Article 45 of Regulation (UE) n° 648/2012 of the European Parliament and Council of 4 July 2012;

  2. The amount of the dedicated own resources of the clearing house allocated in accordance with Paragraph 4 of Article 45 of Regulation (EU) n° 648/2012.

Where the clearing house considers that a clearing member is unable to meet its future obligations, it shall inform the AMF immediately.