{"release":{"id":"2d86bd12ba77a288053b34ea2517324b92d03c8039b7f5d156fa4002421384a1","published":"2026-11-10T16:06:46Z","pinned":false},"limits":{"coverage":{"history":"from:2022-11-29","held_since":"2022-11-29","gaps":[],"covered":["153/2013 — RTS — Requirements for central counterparties [in force] L2"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"2d86bd12ba77a288053b34ea2517324b92d03c8039b7f5d156fa4002421384a1","release_published":"2026-11-10T16:06:46Z","checked_at":"2026-11-09","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/emir/level-2/rts/153-2013-requirements-for-central-counterparties/articles/40","url":"https://www.headlesslaw.com/emir/level-2/rts/153-2013-requirements-for-central-counterparties/articles/40","title":"Article 40 — Valuing collateral","family":"l2_unit_view","work_id":"spaces/emir/level-2/rts/153-2013-requirements-for-central-counterparties","view_of":"/emir/level-2/rts/153-2013-requirements-for-central-counterparties","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-11","applies_from":null,"application":null,"version_label":"Consolidated version of 7 March 2024","check":{"against":"EUR-Lex","on":"2026-11-09"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02013R0153-20240307","valid_from":"2013-03-15","valid_until":null,"revision":1,"content_id":"d5ba7ed3739d970d","versions":["2013-03-15"],"version_url":"https://www.headlesslaw.com/emir/level-2/rts/153-2013-requirements-for-central-counterparties/articles/40/versions/2022-11-29","revision_url":"https://www.headlesslaw.com/emir/level-2/rts/153-2013-requirements-for-central-counterparties/articles/40/versions/2022-11-29/rev/d5ba7ed3739d970d","versions_url":"https://www.headlesslaw.com/emir/level-2/rts/153-2013-requirements-for-central-counterparties/articles/40/versions","relations_url":"https://www.headlesslaw.com/emir/level-2/rts/153-2013-requirements-for-central-counterparties/articles/40/relations","act_url":"https://www.headlesslaw.com/emir/level-2/rts/153-2013-requirements-for-central-counterparties#art-40","source_line":"Commission Delegated Regulation (EU) No 153/2013 · binding · OJ L 52, 23.2.2013 · dated 19 Dec 2012 [in force]","attribution":{"prepared_by":"European Commission","published_by":"Publications Office of the EU","published_in":"Official Journal of the European Union","document_type":"delegated_regulation","legal_nature":"binding_adopted","addressees":"not stated in the document","dates":{"document_date":"2012-12-19","entry_into_force":"2013-03-15","locators":{"document_date":"CELLAR 32013R0153 work_date_document","entry_into_force":"CELLAR 32013R0153 resource_legal_date_entry-into-force (earliest on or after the document date)"}},"adoption":null},"context":{"act":{"work_id":"spaces/emir/level-2/rts/153-2013-requirements-for-central-counterparties","path":"/emir/level-2/rts/153-2013-requirements-for-central-counterparties","name":"Commission Delegated Regulation (EU) No 153/2013","number":"153/2013","celex":"32013R0153","title_official":"COMMISSION DELEGATED REGULATION (EU) No 153/2013 of 19 December 2012 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on requirements for central counterparties (Text with EEA relevance)","document_date":"2012-12-19"},"position":{"kind":"article","key":"40","index":40,"articles":62,"annexes":2},"prev":{"path":"/emir/level-2/rts/153-2013-requirements-for-central-counterparties/articles/39","key":"39","title":"Article 39 — Financial instruments"},"next":{"path":"/emir/level-2/rts/153-2013-requirements-for-central-counterparties/articles/41","key":"41","title":"Article 41 — Haircuts"},"act_anchor":"#art-40"}},"provenance":{"official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02013R0153-20240307","check":{"result":"matched","checked_at":"2026-11-09","against":"EUR-Lex"},"repo_path":null,"unit_text_sha256":"4bc85e14799fea1d29dd258933899d221edd8898076b2a460f57bb07f3e18553","note":"the unit is a byte-exact part of the act page, whose check record covers it"},"unit":{"locator":"spaces/emir/level-2/rts/153-2013-requirements-for-central-counterparties/art-40","kind":"article","key":"40","heading":"Article 40 — Valuing collateral","text":"## <a id=\"art-40\"></a>Article 40 — Valuing collateral\n\n1. <a id=\"art-40-p-1\"></a>For the purposes of valuing highly liquid collateral as defined in Article 37, a CCP shall establish and implement policies and procedures to monitor on a near to real time basis the credit quality, market liquidity and price volatility of each asset accepted as collateral. A CCP shall monitor on a regular basis, and at least annually, the adequacy of its valuation policies and procedures. Such review shall also be carried out whenever a material change occurs that affects the CCP’s risk exposure.\n\n2. <a id=\"art-40-p-2\"></a>A CCP shall mark-to-market its collateral on a near to real time basis and, where not possible, a CCP shall be able to demonstrate to the competent authorities that it is able to manage the risks.\n\n","marks":[],"text_hash":"4bc85e14799fea1d29dd258933899d221edd8898076b2a460f57bb07f3e18553","revision":1}}