Regulation 2 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

In Article 497 (own funds requirements for exposures to CCPs) of Regulation (EU) 575/2013 [As amended by S.I. 2019/1232 and 2021/1078.], the transitional period referred to in paragraph 1(b)(ii) [This transitional period was extended by S.I. 2022/1244 to end three years after the date of submission of the application and by S.I. 2023/999 to end four years after the date of submission of the application.] is extended by 12 months so that it ends five years after the date of the submission of the application.