EU pension scheme report

On 3 February 2015, the European Commission adopted a report in accordance with Article 85(2) of EMIR, assessing the progress and effort made by CCPs in developing technical solutions for the transfer by Pension Scheme Arrangements (PSAs) of non-cash collateral as variation margin, as well as the need for any measures to facilitate such solution.

In order to assess the situation fully, the Commission ordered a baseline study on the subject which was prepared by Europe Economics and Bourse Consult.  This report has now been published and can be downloaded here. As a result of this work the Commission has recommended a two year extension to the dispensation given to pension funds from meeting the EMIR clearing obligations for OTC derivative contracts.

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