{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"from:2023-02-14","held_since":"2023-02-14","gaps":[],"covered":["2016/2251 — RTS — Risk-mitigation techniques for OTC derivative contracts [in force] L2"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-20","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/articles/30","url":"https://www.headlesslaw.com/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/articles/30","title":"Article 30 — Treatment of derivatives associated to covered bonds for hedging 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Delegated Regulation (EU) 2016/2251 · binding · OJ L 340, 15.12.2016 · dated 4 Oct 2016 [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":"2016-10-04","entry_into_force":"2017-01-04","locators":{"document_date":"CELLAR 32016R2251 work_date_document","entry_into_force":"CELLAR 32016R2251 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts","path":"/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts","name":"Commission Delegated Regulation (EU) 2016/2251","number":"2016/2251","celex":"32016R2251","title_official":"COMMISSION DELEGATED REGULATION (EU) 2016/2251 of 4 October 2016 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to regulatory technical standards for risk-mitigation techniques for OTC derivative contracts not cleared by a central counterparty (Text with EEA relevance)","document_date":"2016-10-04"},"position":{"kind":"article","key":"30","index":30,"articles":42,"annexes":4},"prev":{"path":"/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/articles/29","key":"29","title":"Article 29 — Threshold based on initial margin amounts"},"next":{"path":"/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/articles/30a","key":"30a","title":"Article 30a — Treatment of derivatives in connection with securitisations for hedging purposes"},"act_anchor":"#art-30"}},"provenance":{"official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02016R2251-20230214","check":{"result":"matched","checked_at":"2026-10-20","against":"EUR-Lex"},"repo_path":"spaces/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts.md","unit_text_sha256":"8347ab2748483a2c2fe8347862f0c8dd63a9a39762b9e300795abd31cb9cf657","note":"the unit is a byte-exact part of the act page, whose check record covers it"},"unit":{"locator":"spaces/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/art-30","kind":"article","key":"30","heading":"Article 30 — Treatment of derivatives associated to covered bonds for hedging purposes","text":"## <a id=\"art-30\"></a>Article 30 — Treatment of derivatives associated to covered bonds for hedging purposes\n\n1. <a id=\"art-30-p-1\"></a>By way of derogation from Article 2(2) and where the conditions set out in paragraph 2 of this Article are met, counterparties may, in their risk management procedures, provide the following in relation to OTC derivative contracts concluded in connection with covered bonds:\n\n    <a id=\"art-30-p-1-a\"></a>**(a)** variation margin is not posted by the covered bond issuer or cover pool but is collected from its counterparty in cash and returned to its counterparty when due;\n\n    <a id=\"art-30-p-1-b\"></a>**(b)** initial margin is not posted or collected.\n\n2. <a id=\"art-30-p-2\"></a>Paragraph 1 applies where all of the following conditions are met:\n\n    <a id=\"art-30-p-2-a\"></a>**(a)** the OTC derivative contract is not terminated in case of resolution or insolvency of the covered bond issuer or cover pool;\n\n    <a id=\"art-30-p-2-b\"></a>**(b)** the counterparty to the OTC derivative concluded with covered bond issuers or with cover pools for covered bonds ranks at least pari passu with the covered bond holders except where the counterparty to the OTC derivative concluded with covered bond issuers or with cover pools for covered bonds is the defaulting or the affected party, or waives the pari passu rank;\n\n    <a id=\"art-30-p-2-c\"></a>**(c)** the OTC derivative contract is registered or recorded in the cover pool of the covered bond in accordance with national covered bond legislation;\n\n    <a id=\"art-30-p-2-d\"></a>**(d)** the OTC derivative contract is used only to hedge the interest rate or currency mismatches of the cover pool in relation to the covered bond;\n\n    <a id=\"art-30-p-2-e\"></a>**(e)** the netting set does not include OTC derivative contracts unrelated to the cover pool of the covered bond;\n\n    <a id=\"art-30-p-2-f\"></a>**(f)** the covered bond to which the OTC derivative contract is associated meets the requirements of paragraphs (1), (2) and (3) of Article 129 of Regulation (EU) No 575/2013;\n\n    <a id=\"art-30-p-2-g\"></a>**(g)** the cover pool of the covered bond to which the OTC derivative contract is associated is subject to a regulatory collateralisation requirement of at least 102 %.\n\n","marks":[],"text_hash":"8347ab2748483a2c2fe8347862f0c8dd63a9a39762b9e300795abd31cb9cf657","revision":1}}