EMIR
—
Exemption from collateralisation
of intragroup OTC derivatives transactions
Regulation (EU) No. 648/2012 ("EMIR") imposes an obligation on certain counterparties to collateralise OTC derivative transactions not cleared through central counterparties. However, it is possible to exempt intragroup transactions from this obligation. If such an exemption is approved by the competent supervisory authorities, information on the exemption of intragroup transactions pursuant to Art. 11 para. 14 lit. d EMIR in connection with Art. 20 Delegated Regulation (EU) must be published.
The following group companies were granted a full (1) exemption by the competent authorities:
VP Bank AG (LEI: MI3TLH1I0D58ORE24Q14) by the FMA - Financial Market Authority Liechtenstein - and VP Bank (Luxembourg) SA (LEI: 549300FKMQ4CQTPLCI28) by the CSSF - Financial Sector Supervisory Commission.
| Intragroup counterparty | Country | LEI (Legal Entity Identifier) | Relationship with intragroup counterparty | Category of derivative | Yearly exempt gross notional amount in EUR | Validity |
| VP Bank (Luxembourg) SA | Luxemburg | 549300FKMQ4CQTPLCI28 | Belongs to the same consolidated group | Currency | 8'862'500'000 | n.a. |
| Commodity | 15'000'000 | n.a. | ||||
| VP Bank (Schweiz) AG | Switzerland | 54930066YZFYEEPGIP56 | Belongs to the same consolidated group | Currency | 2'380'000'000 | 30.06.2025 |
| Commodity | 285'000'000 | 30.06.2025 | ||||
| VP Bank (BVI) Ltd | BVI | 5493006RC8WBL0CUBE87 | Belongs to the same consolidated group | Currency | 30'000'000 | 30.06.2025 |
| Commodity | 15'000'000 | 30.06.2025 |
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