When the Committee published the revised Supervisory framework for measuring and controlling large exposures in April 2014, it noted that by 2016 it would review the appropriateness of setting a large exposure limit for exposures to qualifying central counterparties (QCCPs) related to clearing activities.
It also noted that its review would cover the impact of the large exposures framework on interbank exposures to ensure there are no unavoidable adverse consequences for the implementation of monetary policy.
The Committee has completed its review and has decided to maintain the previously announced treatment for both types of exposure. As a result, the framework, which will take effect from 1 January 2019, will:
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exempt from the large exposure limit exposures to QCCPs related to central clearing; and
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apply the large exposure limit to interbank exposures (ie no exemption will apply).
These two elements and responses to frequently asked questions on the large exposures framework are available in the FAQs.
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