> 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/16.md).

# Article 16 — Capital requirements

*In force · Consolidated version of 17 January 2025 · Checked against EUR-Lex on 11 Oct 2026 ·* [*Official source*](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02012R0648-20250117)

1. A CCP shall have a permanent and available initial capital of at least EUR 7,5 million to be authorised pursuant to [Article 14](/emir/articles/14.md).
2. A CCP’s capital, including retained earnings and reserves, shall be proportionate to the risk stemming from the activities of the CCP. It shall at all times be sufficient to ensure an orderly winding-down or restructuring of the activities over an appropriate time span and an adequate protection of the CCP against credit, counterparty, market, operational, legal and business risks which are not already covered by specific financial resources as referred to in [Articles 41](/emir/articles/41.md) to 44.
3. In order to ensure consistent application of this Article, EBA shall, in close cooperation with the ESCB and after consulting ESMA, develop draft regulatory technical standards specifying requirements regarding the capital, retained earnings and reserves of a CCP referred to in paragraph 2.

   EBA shall submit those draft regulatory technical standards to the Commission by 30 September 2012.

   Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.

### Related Level 2 and Level 3

#### Binding measures

* [152/2013 — RTS — Capital requirements for central counterparties \[in force\]](/emir/level-2/rts/152-2013-capital-requirements-for-central-counterparties.md)

#### Guidance and Q\&A

* [ESMA Q\&A 862 — Q\&A — Capital (old CCP question 7 dated 4/06/2013) \[Answer Published\]](/emir/level-3/q-and-a/esma/esma-qa-862-capital-old-ccp-question-7-dated-4-06-2013.md)

***

[Title III — Authorisation and supervision of CCPs](/emir/titles/iii.md) · [← Article 15a](/emir/articles/15a.md) · [Article 17 →](/emir/articles/17.md)