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Version status: Entered into force | Document consolidation status: Updated to reflect all known changes
Version date: 15 March 2013 - onwards
Version 2 of 2

Article 38 Cash collateral

For the purposes of Article 46(1) of Regulation (EU) No 648/2012, highly liquid collateral in the form of cash shall be denominated in one of the following:

(a) a currency for which the CCP can demonstrate to the competent authorities that it is able to adequately manage the risk;

(b) a currency in which the CCP clears transactions, in the limit of the collateral required to cover the CCP's exposures in that currency.