EBU Single Rulebook Q&A 27 May 2016 2016_2750 Clarification on the treatment of regular clearing positions of central counterparties (CCPs) in the leverage ratio exposure measure (provided CCPs are subject to leverage ratio regulation)

Can you confirm that positions which arise from a CCP’s primary clearing activity and which are already covered by EMIR-compliant risk management tools are to be excluded from the LR exposure measure? Recent analyses by the Project Team on the Leverage Ratio have shown that CCPs which are subject to leverage ratio regulation apply different methods to calculate the leverage ratio exposure measure.