Bank Guarantees as collateral – Online surveys by NAET and the European Commission
Current EMIR regulations include an exemption that allows non-financial firms to use Bank Guarantees as collateral. This exemption expires in March 2016.
The European Commission launched on 21 May 2015 a review of EMIR. Interested parties are invited by the Commission to send their contributions by 13 August 2015.
NAET intends to present its views in a response to the review. The NAET response will focus on the planned Bank Guarantees phase-out and its consequences for market participants and for the future development of the electricity market in Baltic and Nordic countries.
NAET has therefore assigned Björn Hagman, Hagman Energy AB, and Niclas Damsgaard, Sweco Energuide AB, to perform an online survey to market participants regarding Bank Guarantees as collateral and summarise received responses in a report. The report will be included in NAET’s response to the Commission and also available on the NAET website (www.naet.org). Individual responses will not be presented for NAET.
All market participants are invited to give a response to the survey.
The NAET online survey is available on http://bit.ly/bankguarantees
Online responses can be given until 14 June 2015.
The EMIR consultation can be answered through an online questionnaire available at http://ec.europa.eu/finance/consultations/2015/emir-revision/index_en.htm