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# Article 19 — Opinion of the college

*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.** Where the college referred to in [Article 18](/emir/articles/18.md) is required to give an opinion pursuant to this Regulation, it shall reach a joint opinion determining whether the CCP complies with the requirements laid down in this Regulation.

Without prejudice to [Article 17(4)](/emir/articles/17.md), third subparagraph, point (b), if no joint opinion is reached in accordance with the first subparagraph of this paragraph, the college referred to in [Article 18](/emir/articles/18.md) shall adopt a majority opinion within the same period.

**1a.** Where the college gives an opinion pursuant to this Regulation, at the request of any member of the college and upon adoption by a majority of the college in accordance with paragraph 3 of this Article, that opinion may include, in addition to the determination of whether the CCP complies with this Regulation, recommendations aimed at addressing shortcomings in the CCP's risk management and increasing its resilience.

Where the college may give an opinion, any central bank of issue, which is a member of the college pursuant to points (h) and (i) of [Article 18(2)](/emir/articles/18.md), may adopt recommendations relating to the currency it issues.

**2.** ESMA shall facilitate the adoption of the joint opinion in accordance with its general coordination function under Article 31 of Regulation (EU) No 1095/2010.

**3.** A majority opinion of the college shall be adopted on the basis of a simple majority of its members.

For colleges up to and including 12 members, a maximum of two college members belonging to the same Member State shall have a vote and each voting member, shall have one vote. For colleges with more than 12 members, a maximum of three members belonging to the same Member State shall have a vote and each voting member shall have one vote.

Where the ECB is a member of the college pursuant to points (c) and (h) of [Article 18(2)](/emir/articles/18.md), it shall have two votes.

The members of the college referred to in points (a), (ca) and (i) of [Article 18(2)](/emir/articles/18.md) shall have no voting rights on the opinions of the college.

**4.** \[Deleted by [Regulation (EU) 2024/2987](https://eur-lex.europa.eu/eli/reg/2024/2987/oj) of 27 November 2024.]

### Related Level 2 and Level 3

#### Guidance and Q\&A

* [ESMA/2014/576 — Opinion — Voting Procedures for CCP colleges \[published\]](/emir/level-3/opinions/esma-2014-576-voting-procedures-for-ccp-colleges.md)
* [ESMA70-151-3431 — Guideline — Written agreements between members of CCP colleges \[final\]](/emir/level-3/guidelines/esma70-151-3431-written-agreements-between-members-of-ccp-colleges.md)

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[Title III — Authorisation and supervision of CCPs](/emir/titles/iii.md) · [← Article 18](/emir/articles/18.md) · [Article 20 →](/emir/articles/20.md)