EU national competent authorities and the European Securities and Markets Authority have published an amended set of European Market Infrastructure Regulation (EMIR) Q&As. The purpose of the document is to promote common supervisory approaches and practices in the application of EMIR.The Q&As cover questions in regard to over-the-counter (OTC) Derivatives, central counterparties (CCPs) and trade repositories. There are new questions in regard to: 

• Funds and counterparties;

• Principal-to-principal model;

• Definition of OTC derivatives;

• Calculation of the clearing threshold;

• Timely confirmation;

• Intragroup transactions;

• Hedging definition;

• Risk mitigation techniques for OTC derivative contracts not cleared by a CCP;

• Status of entities not established in the European Union;

• Portfolio reconciliation;

• Dispute resolution;

• Deposit of financial instruments;

• Segregation and portability;

• Default fund;

• Organizational requirements;

• Allocation of additional resources;

• Classification of financial instruments; and

• Reporting of collateral and valuation. 

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