This college includes various national banking supervisors as well as national central banks from across the EU. The inclusion of the Eurosystem in its role as the central bank of issue is also a particularity of the European supervisory regime for CCPs. This is deliberate, however, as, in the event of a crisis at a CCP or one of their clearing participants, i.e.
banks, it is the central banks that are able to support them with liquidity assistance. This, in my view, makes the Eurosystem’s involvement in the regulation of CCPs absolutely essential. EMIR2 will now continue to pursue this path and will assign the Eurosystem, as the CBI for the euro, a corresponding supervisory role for systemically important third-country CCPs.