Draft EU legislation seen by Bloomberg sets out rules on saving or shuttering clearinghouses that would apply to firms such as London-based LCH. The proposals cover everything from the creation of resolution authorities to the powers they would have when winding a company down, including writing down shares, debt and collateral.
Versions of this same article are available on most of the major news services. Here is the one from Bloomberg.
EU prepares to release rules on CCP recovery including Skin In the Game