<!-- headlesslaw {"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"from:2022-08-12","held_since":"2022-08-12","gaps":[],"covered":["EMIR L1"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-26","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/emir/recitals/32","url":"https://www.headlesslaw.com/emir/recitals/32","title":"Recital 32","family":"l1_recital_view","work_id":"emir","view_of":"/emir/recitals","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-02","applies_from":null,"application":null,"version_label":"Regulation (EU) No 648/2012, OJ L 201, 27.7.2012","check":{"against":"EUR-Lex","on":"2026-10-26"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/eli/reg/2012/648/oj/eng","valid_from":"2022-08-12","valid_until":null,"content_id":"a606497e8950f0ba","versions":["2022-08-12"],"version_url":"https://www.headlesslaw.com/emir/recitals/32/versions/2022-08-12","revision_url":"https://www.headlesslaw.com/emir/recitals/32/versions/2022-08-12/rev/a606497e8950f0ba","versions_url":"https://www.headlesslaw.com/emir/recitals/32/versions","relations_url":"https://www.headlesslaw.com/emir/recitals/32/relations","act_url":"https://www.headlesslaw.com/emir/recitals","source_line":null,"attribution":null,"context":{"act":{"work_id":"emir","path":"/emir/recitals","name":"EMIR","number":"Regulation (EU) No 648/2012","celex":"32012R0648","title_official":null,"document_date":null},"position":{"kind":"recital","key":"32","index":32,"articles":99,"annexes":0},"prev":{"path":"/emir/recitals/31","key":"31","title":"Recital 31"},"next":{"path":"/emir/recitals/33","key":"33","title":"Recital 33"},"act_anchor":""}}} -->
# Recital 32

*In force · Regulation (EU) No 648/2012, OJ L 201, 27.7.2012 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/eli/reg/2012/648/oj/eng)*

Members of the ESCB and other Member States’ bodies performing similar functions, other Union public bodies charged with or intervening in the management of the public debt, and the Bank for International Settlements should be excluded from the scope of this Regulation in order to avoid limiting their power to perform their tasks of common interest.