Article 36 — Maintenance of the amount of the CCP’s own resources to be used in the default waterfall

1.A CCP shall immediately inform the competent authority if the amount of dedicated own resources held falls below the amount required in Article 35, together with the reasons for the breach and a comprehensive description in writing of the measures and the timetable for the replenishment of such amount.

2.Where a subsequent default of one or more clearing members occurs before the CCP has reinstated the dedicated own resources, only the residual amount of the allocated dedicated own resources shall be used for the purpose of Article 45 of Regulation (EU) No 648/2012.

3.A CCP shall reinstate the dedicated own resource at the least within one month from the notification under paragraph 1.