Therefore, in order to prevent the possibility of distortion or arbitrage between the use of securitisations and covered bonds because of the different treatment of OTC derivative contracts entered into by covered bond entities or by SSPEs, Regulation (EU) No 648/2012 should be amended to ensure consistency of treatment between derivatives associated with covered bonds and derivatives associated with securitisations, with regard to the clearing obligation and to the margin requirements on non-centrally cleared OTC derivatives.
Dá bhrí sin, d’fhonn cosc a chur ar an bhféidearthacht saobhadh nó arbatráiste a bheith ann idir úsáid urrúsuithe agus bannaí faoi chumhdach mar gheall ar an gcóir éagsúil a chuirtear ar chonarthaí díorthacha OTC a dhéanann eintitis bannaí faoi chumhdach nó SSPEnna, ba cheart Rialachán (AE) Uimh. 648/2012 a leasú chun comhsheasmhacht a bhaint amach maidir leis an gcóir a chuirtear ar dhíorthaigh a bhaineann le bannaí faoi chumhdach agus bannaí a bhaineann le hurrúsuithe, i ndáil leis an oibleagáid imréitigh agus na ceanglais i dtaca le corrlaigh do chonarthaí díorthach thar an gcuntar nach bhfuil imréitithe go lárnach.