# Article 3 — Conditions for higher frequencies of calculation and reporting in accordance with Article 50a(3) and Article 50c(2) of Regulation (EU) No 648/2012 **Commission Implementing Regulation (EU) No 484/2014 · binding · OJ L 138, 13.5.2014 · dated 12 May 2014 [in force]** *In force · Commission Implementing Regulation (EU) No 484/2014, OJ L 138, 13.5.2014 · Checked against EUR-Lex on 20 Oct 2026 · [Official source](https://eur-lex.europa.eu/eli/reg_impl/2014/484/oj/eng)* 1. Competent authorities of an institution acting as a clearing member may require any CCP in which that institution acts as a clearing member to undertake the calculation referred to in Article 1(1) and the reporting referred to in Article 2(1) with either a daily or a weekly frequency in either of the following situations: **(a)** where, following the default of one clearing member, a CCP is obliged to use any portion of the pre-funded financial resources that it contributed to the default waterfall in accordance with [Article 43](../../articles/43.md) of Regulation (EU) No 648/2012; **(b)** where, following the default of one clearing member a CCP is obliged to make use of the default fund contributions of non-defaulting clearing members in accordance with [Article 42](../../articles/42.md) of Regulation (EU) No 648/2012. 2. Competent authorities shall base the choice between daily and weekly frequency as provided for in paragraph 1 on the degree of actual or foreseen depletion of the pre-funded financial resources. 3. Where competent authorities require a higher frequency of calculation and reporting from a CCP in accordance with point (a) of paragraph 1, the higher frequency shall apply until the pre-funded financial resources that were contributed by the CCP to the default waterfall are restored at the levels set in Article 35 of Commission Delegated Regulation (EU) No 153/2013. 4. Where competent authorities require a higher frequency of calculation and reporting from a CCP in accordance with point (b) of paragraph 1, the higher frequency shall apply until the default fund contributions of the non-defaulting members of the CCP are restored to the levels set out in [Article 42](../../articles/42.md) of Regulation (EU) No 648/2012.