{"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/32","url":"https://www.headlesslaw.com/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/articles/32","title":"Article 32 — Procedures for counterparties and relevant competent 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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":"32","index":34,"articles":42,"annexes":4},"prev":{"path":"/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/articles/31a","key":"31a","title":"Article 31a — Treatment of physically settled foreign exchange forwards and physically settled foreign exchange swaps"},"next":{"path":"/emir/level-2/rts/2016-2251-risk-mitigation-techniques-for-otc-derivative-contracts/articles/33","key":"33","title":"Article 33 — Applicable criteria on the legal impediment to the prompt transfer of own funds and repayment of liabilities"},"act_anchor":"#art-32"}},"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":"634a3706294a9730b4bc4e7eebda5de960a4c6f3e90c5cf138f7b01b55755a69","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-32","kind":"article","key":"32","heading":"Article 32 — Procedures for counterparties and relevant competent authorities","text":"## <a id=\"art-32\"></a>Article 32 — Procedures for counterparties and relevant competent authorities\n\n1. <a id=\"art-32-p-1\"></a>The application or notification from a counterparty to the competent authority pursuant to paragraphs 6 to 10 of [Article 11](../../articles/11.md) of Regulation (EU) No 648/2012 shall be deemed to have been received when the competent authority receives all of the following information:\n\n    <a id=\"art-32-p-1-a\"></a>**(a)** all the information necessary to assess whether the conditions specified in paragraphs 6, 7, 8, 9 or 10, respectively, of [Article 11](../../articles/11.md) of Regulation (EU) No 648/2012 have been fulfilled;\n\n    <a id=\"art-32-p-1-b\"></a>**(b)** the information and documents referred to in Article 18(2) of Commission Delegated Regulation (EU) No 149/2013.\n\n2. <a id=\"art-32-p-2\"></a>Where a competent authority determines that further information is required in order to assess whether the conditions referred to in paragraph 1(a) are fulfilled, it shall submit a written request for information to the counterparty.\n\n3. <a id=\"art-32-p-3\"></a>A decision by a competent authority under [Article 11(6)](../../articles/11.md) of Regulation (EU) No 648/2012 shall be communicated to the counterparty within 3 months of receipt of all the information referred to in paragraph 1.\n\n4. <a id=\"art-32-p-4\"></a>Where a competent authority reaches a positive decision under paragraphs 6, 8, or 10 of [Article 11](../../articles/11.md) of Regulation (EU) No 648/2012, it shall communicate that positive decision to the counterparty in writing, specifying at least the following:\n\n    <a id=\"art-32-p-4-a\"></a>**(a)** whether the exemption is a full exemption or a partial exemption;\n\n    <a id=\"art-32-p-4-b\"></a>**(b)** in the case of a partial exemption, a clear identification of the limitations of the exemption.\n\n5. <a id=\"art-32-p-5\"></a>Where a competent authority reaches a negative decision under paragraphs 6, 8, or 10 of [Article 11](../../articles/11.md) of Regulation (EU) No 648/2012 or objects to a notification under paragraphs 7 or 9 of [Article 11](../../articles/11.md) of that Regulation, it shall communicate that negative decision or objection to the counterparty in writing, specifying at least the following:\n\n    <a id=\"art-32-p-5-a\"></a>**(a)** the conditions of paragraphs 6, 7, 8, 9 or 10, respectively, of [Article 11](../../articles/11.md) of Regulation (EU) No 648/2012 that are not fulfilled;\n\n    <a id=\"art-32-p-5-b\"></a>**(b)** a summary of the reasons for considering that such conditions are not fulfilled.\n\n6. <a id=\"art-32-p-6\"></a>Where one of the competent authorities notified under [Article 11(7)](../../articles/11.md) of Regulation (EU) No 648/2012 considers that the conditions referred to in points (a) or (b) of the first subparagraph of [Article 11(7)](../../articles/11.md) of that Regulation are not fulfilled, it shall notify the other competent authority within 2 months of receipt of the notification.\n\n7. <a id=\"art-32-p-7\"></a>The competent authorities shall notify the non-financial counterparties of the objection referred to in paragraph 5 within 3 months of receipt of the notification.\n\n8. <a id=\"art-32-p-8\"></a>A decision by a competent authority under [Article 11(8)](../../articles/11.md) of Regulation (EU) No 648/2012 shall be communicated to the counterparty established in the Union within 3 months of receipt of all the information referred to in paragraph 1.\n\n9. <a id=\"art-32-p-9\"></a>A decision by the competent authority of a financial counterparty referred to [Article 11(10)](../../articles/11.md) of Regulation (EU) No 648/2012 shall be communicated to the competent authority of the non-financial counterparty within 2 months from the receipt of the all the information referred to in paragraph 1 and to the counterparties within 3 months of receipt of that information.\n\n10. <a id=\"art-32-p-10\"></a>Counterparties that have submitted a notification or received a positive decision according to paragraphs 6, 7, 8, 9 or 10, respectively, of [Article 11](../../articles/11.md) of Regulation (EU) No 648/2012 shall immediately notify the relevant competent authority of any change that may affect the fulfilment of the conditions set out in those paragraphs, as applicable. The competent authority may object to the application for the exemption or withdraw its positive decision following any change in circumstances that could affect the fulfilment of those conditions.\n\n11. <a id=\"art-32-p-11\"></a>Where a negative decision or objection is communicated by a competent authority, the relevant counterparty may only submit another application or notification where there has been a material change in the circumstances that formed the basis of the competent authority's decision or objection.\n\n**SECTION 2 — Applicable criteria for applying exemptions for intragroup derivative contracts**\n\n","marks":[],"text_hash":"634a3706294a9730b4bc4e7eebda5de960a4c6f3e90c5cf138f7b01b55755a69","revision":1}}