> For the complete documentation index, see [llms.txt](https://www.headlesslaw.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.headlesslaw.com/emir/articles.md).

# Articles

All 137 articles of Regulation (EU) No 648/2012 (EMIR), one page each.

### [Title I — Subject matter, scope and definitions](/emir/titles/i.md)

* [Article 1 — Subject matter and scope](/emir/articles/1.md)
* [Article 2 — Definitions](/emir/articles/2.md)
* [Article 2a — Equivalence decisions for the purposes of the definition of OTC derivatives](/emir/articles/2a.md)
* [Article 3 — Intragroup transactions](/emir/articles/3.md)

### [Title II — Clearing, reporting and risk mitigation of OTC derivatives](/emir/titles/ii.md)

* [Article 4 — Clearing obligation](/emir/articles/4.md)
* [Article 4a — Financial counterparties that are subject to the clearing obligation](/emir/articles/4a.md)
* [Article 4b — Post-trade risk reduction services](/emir/articles/4b.md)
* [Article 5 — Clearing obligation procedure](/emir/articles/5.md)
* [Article 6 — Public register](/emir/articles/6.md)
* [Article 6a — Suspension of clearing obligation](/emir/articles/6a.md)
* [Article 6b — Suspension of clearing obligation in the case of resolution](/emir/articles/6b.md)
* [Article 7 — Access to a CCP](/emir/articles/7.md)
* [Article 7a — Active account](/emir/articles/7a.md)
* [Article 7b — Monitoring of the active account obligation](/emir/articles/7b.md)
* [Article 7c — Information on the provision of clearing services](/emir/articles/7c.md)
* [Article 7d — Information on clearing activity in CCPs recognised under Article 25](/emir/articles/7d.md)
* [Article 7e — Information on Union CCPs](/emir/articles/7e.md)
* [Article 8 — Access to a trading venue](/emir/articles/8.md)
* [Article 9 — Reporting obligation](/emir/articles/9.md)
* [Article 10 — Non-financial counterparties](/emir/articles/10.md)
* [Article 11 — Risk-mitigation techniques for OTC derivative contracts not cleared by a CCP](/emir/articles/11.md)
* [Article 12 — Penalties](/emir/articles/12.md)
* [Article 13 — Mechanism to avoid duplicative or conflicting rules with regard to OTC derivative contracts not cleared by a CCP](/emir/articles/13.md)
* [Article 13a — Amendments to legacy contracts for the purpose of the implementation of benchmark reforms](/emir/articles/13a.md)

### [Title III — Authorisation and supervision of CCPs](/emir/titles/iii.md)

#### Chapter 1 — Conditions and procedures for the authorisation of a CCP

* [Article 14 — Authorisation of a CCP](/emir/articles/14.md)
* [Article 15 — Extension of activities and services](/emir/articles/15.md)
* [Article 15a — Exemption from authorisation of an extension of clearing services or activities](/emir/articles/15a.md)
* [Article 16 — Capital requirements](/emir/articles/16.md)
* [Article 17 — Procedure for granting and refusing authorisation](/emir/articles/17.md)
* [Article 17a — Accelerated procedure for authorisation of an extension of authorisation](/emir/articles/17a.md)
* [Article 17b — Procedure for adopting decisions, reports or other measures](/emir/articles/17b.md)
* [Article 17c — Central database](/emir/articles/17c.md)
* [Article 18 — College](/emir/articles/18.md)
* [Article 19 — Opinion of the college](/emir/articles/19.md)
* [Article 20 — Withdrawal of authorisation](/emir/articles/20.md)
* [Article 21 — Review and evaluation](/emir/articles/21.md)

#### Chapter 2 — Supervision and oversight of CCPs

* [Article 22 — Competent authority](/emir/articles/22.md)

#### Chapter 3 — Cooperation

* [Article 23 — Cooperation between authorities](/emir/articles/23.md)
* [Article 23a — Supervisory cooperation between competent authorities and ESMA with regards to authorised CCPs](/emir/articles/23a.md)
* [Article 23b — Joint Monitoring Mechanism](/emir/articles/23b.md)
* [Article 24 — Emergency situations](/emir/articles/24.md)

#### Chapter 3A — CCP Supervisory Committee

* [Article 24a — CCP Supervisory Committee](/emir/articles/24a.md)
* [Article 24b — Consultation of central banks of issue](/emir/articles/24b.md)
* [Article 24c — Decision making within the CCP Supervisory Committee](/emir/articles/24c.md)
* [Article 24d — Decision making within the Board of Supervisors](/emir/articles/24d.md)
* [Article 24e — Accountability](/emir/articles/24e.md)

#### Chapter 4 — Relations with third countries

* [Article 25 — Recognition of a third-country CCP](/emir/articles/25.md)
* [Article 25a — Comparable compliance](/emir/articles/25a.md)
* [Article 25b — Ongoing compliance with the conditions for recognition](/emir/articles/25b.md)
* [Article 25c — Third-country CCP college](/emir/articles/25c.md)
* [Article 25d — Fees](/emir/articles/25d.md)
* [Article 25e — Exercise of the powers referred to in Articles 25f to 25h](/emir/articles/25e.md)
* [Article 25f — Request for information](/emir/articles/25f.md)
* [Article 25g — General investigations](/emir/articles/25g.md)
* [Article 25h — On-site inspections](/emir/articles/25h.md)
* [Article 25i — Procedural rules for taking supervisory measures and imposing fines](/emir/articles/25i.md)
* [Article 25j — Fines](/emir/articles/25j.md)
* [Article 25k — Periodic penalty payments](/emir/articles/25k.md)
* [Article 25l — Hearing of the persons concerned](/emir/articles/25l.md)
* [Article 25m — Disclosure, nature, enforcement and allocation of fines and periodic penalty payments](/emir/articles/25m.md)
* [Article 25n — Review by the Court of Justice](/emir/articles/25n.md)
* [Article 25o — Amendments to Annexes III and IV](/emir/articles/25o.md)
* [Article 25p — Withdrawal of recognition](/emir/articles/25p.md)
* [Article 25q — Supervisory measures by ESMA](/emir/articles/25q.md)

### [Title IV — Requirements for CCPs](/emir/titles/iv.md)

#### Chapter 1 — Organisational requirements

* [Article 26 — General provisions](/emir/articles/26.md)
* [Article 27 — Senior management and the board](/emir/articles/27.md)
* [Article 28 — Risk committee](/emir/articles/28.md)
* [Article 29 — Record keeping](/emir/articles/29.md)
* [Article 30 — Shareholders and members with qualifying holdings](/emir/articles/30.md)
* [Article 31 — Information to competent authorities](/emir/articles/31.md)
* [Article 32 — Assessment](/emir/articles/32.md)
* [Article 33 — Conflicts of interest](/emir/articles/33.md)
* [Article 34 — Business continuity](/emir/articles/34.md)
* [Article 35 — Outsourcing](/emir/articles/35.md)

#### Chapter 2 — Conduct of business rules

* [Article 36 — General provisions](/emir/articles/36.md)
* [Article 37 — Participation requirements](/emir/articles/37.md)
* [Article 38 — Transparency](/emir/articles/38.md)
* [Article 39 — Segregation and portability](/emir/articles/39.md)

#### Chapter 3 — Prudential requirements

* [Article 40 — Exposure management](/emir/articles/40.md)
* [Article 41 — Margin requirements](/emir/articles/41.md)
* [Article 42 — Default fund](/emir/articles/42.md)
* [Article 43 — Other financial resources](/emir/articles/43.md)
* [Article 44 — Liquidity risk controls](/emir/articles/44.md)
* [Article 45 — Default waterfall](/emir/articles/45.md)
* [Article 45a — Temporary restrictions in the case of a significant non-default event](/emir/articles/45a.md)
* [Article 46 — Collateral requirements](/emir/articles/46.md)
* [Article 47 — Investment policy](/emir/articles/47.md)
* [Article 48 — Default procedures](/emir/articles/48.md)
* [Article 49 — Review of models, stress testing and back testing](/emir/articles/49.md)
* [Article 49a — Accelerated procedure for non-significant changes to a CCP’s models and parameters](/emir/articles/49a.md)
* [Article 50 — Settlement](/emir/articles/50.md)

#### Chapter 4 — Calculations and reporting for the purposes of Regulation (EU) No 575/2013

* [Article 50a — Calculation of KCCP](/emir/articles/50a.md)
* [Article 50b — General rules for the calculation of KCCP](/emir/articles/50b.md)
* [Article 50c — Reporting of information](/emir/articles/50c.md)
* [Article 50d — Calculation of specific items to be reported by the CCP](/emir/articles/50d.md)

### [Title V — Interoperability arrangements](/emir/titles/v.md)

* [Article 51 — Interoperability arrangements](/emir/articles/51.md)
* [Article 52 — Risk management](/emir/articles/52.md)
* [Article 53 — Provision of margins among CCPs](/emir/articles/53.md)
* [Article 54 — Approval of interoperability arrangements](/emir/articles/54.md)

### [Title VI — Registration and supervision of trade repositories](/emir/titles/vi.md)

#### Chapter 1 — Conditions and procedures for registration of a trade repository

* [Article 55 — Registration of a trade repository](/emir/articles/55.md)
* [Article 56 — Application for registration](/emir/articles/56.md)
* [Article 57 — Notification of and consultation with competent authorities prior to registration](/emir/articles/57.md)
* [Article 58 — Examination of the application](/emir/articles/58.md)
* [Article 59 — Notification of ESMA decisions relating to registration](/emir/articles/59.md)
* [Article 60 — Exercise of the powers referred to in Articles 61 to 63](/emir/articles/60.md)
* [Article 61 — Request for information](/emir/articles/61.md)
* [Article 62 — General investigations](/emir/articles/62.md)
* [Article 63 — On-site inspections](/emir/articles/63.md)
* [Article 64 — Procedural rules for taking supervisory measures and imposing fines](/emir/articles/64.md)
* [Article 65 — Fines](/emir/articles/65.md)
* [Article 66 — Periodic penalty payments](/emir/articles/66.md)
* [Article 67 — Hearing of the persons concerned](/emir/articles/67.md)
* [Article 68 — Disclosure, nature, enforcement and allocation of fines and periodic penalty payments](/emir/articles/68.md)
* [Article 69 — Review by the Court of Justice](/emir/articles/69.md)
* [Article 70 — Amendments to Annex II](/emir/articles/70.md)
* [Article 71 — Withdrawal of registration](/emir/articles/71.md)
* [Article 72 — Supervisory fees](/emir/articles/72.md)
* [Article 73 — Supervisory measures by ESMA](/emir/articles/73.md)
* [Article 74 — Delegation of tasks by ESMA to competent authorities](/emir/articles/74.md)

#### Chapter 2 — Relations with third countries

* [Article 75 — Equivalence and international agreements](/emir/articles/75.md)
* [Article 76 — Cooperation arrangements](/emir/articles/76.md)
* [Article 76a — Mutual direct access to data](/emir/articles/76a.md)
* [Article 77 — Recognition of trade repositories](/emir/articles/77.md)

### [Title VII — Requirements for trade repositories](/emir/titles/vii.md)

* [Article 78 — General requirements](/emir/articles/78.md)
* [Article 79 — Operational reliability](/emir/articles/79.md)
* [Article 80 — Safeguarding and recording](/emir/articles/80.md)
* [Article 81 — Transparency and data availability](/emir/articles/81.md)
* [Article 82 — Exercise of the delegation](/emir/articles/82.md)

### [Title VIII — Common provisions](/emir/titles/viii.md)

* [Article 83 — Professional secrecy](/emir/articles/83.md)
* [Article 84 — Exchange of information](/emir/articles/84.md)

### [Title IX — Transitional and final provisions](/emir/titles/ix.md)

* [Article 85 — Reports and review](/emir/articles/85.md)
* [Article 86 — Committee procedure](/emir/articles/86.md)
* [Article 87 — Amendment to Directive 98/26/EC](/emir/articles/87.md)
* [Article 88 — Websites](/emir/articles/88.md)
* [Article 89 — Transitional provisions](/emir/articles/89.md)
* [Article 90 — Staff and resources of ESMA](/emir/articles/90.md)
* [Article 91 — Entry into force](/emir/articles/91.md)