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In this act Article 38 of 62

Article 38 — Cash collateral

Financial servicesLevel 2RTSEMIRIn forceVerifiedOfficial source

For the purposes of Article 46(1) of Regulation (EU) No 648/2012, highly liquid collateral in the form of cash shall be denominated in one of the following:

38(a)
(a)a currency for which the CCP can demonstrate to the competent authorities that it is able to adequately manage the risk;
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38(b)
(b)a currency in which the CCP clears transactions, in the limit of the collateral required to cover the CCP’s exposures in that currency.
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