**Policy Summary:**
EEA Joint Committee Decision No. 326/2022, adopted on December 9, 2022, amends Annex IX (Financial Services) to the Agreement on the European Economic Area (EEA). The decision incorporates Commission Delegated Regulation (EU) 2022/1011 into the EEA Agreement. This regulation supplements Regulation (EU) No 575/2013, specifying regulatory technical standards for determining indirect exposures to a client arising from derivatives and credit derivative contracts. Specifically, it addresses situations where the contract was not directly entered into with the client, but the underlying debt or equity instrument was issued by that client. The legal reference for Commission Delegated Regulation (EU) 2022/1011 is OJ L 170, 28.6.2022, p. 22. The decision entered into force on December 10, 2022, following the completion of notifications under Article 103(1) of the EEA Agreement. The authentic texts of Delegated Regulation (EU) 2022/1011 in Icelandic and Norwegian will be published in the EEA Supplement to the Official Journal of the European Union. The decision was published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union.
Key Entities Referenced
EEA Joint Committee: The decision-making body responsible for amending the EEA Agreement.
EEA Agreement: The Agreement on the European Economic Area.
Commission Delegated Regulation EU 2022/1011: A regulation supplementing Regulation EU No 575/2013 regarding regulatory technical standards for indirect exposures arising from derivatives and credit derivatives.
Regulation EU No 575/2013: A regulation of the European Parliament and of the Council, which Commission Delegated Regulation EU 2022/1011 supplements.
European Parliament: One of the legislative bodies of the European Union
Council of the European Union: One of the legislative bodies of the European Union
Brussels: Location where the decision was finalized.
Kristjn Andri STEFNSSON: The President of the EEA Joint Committee.
29.6.2023 EN Official Journal of the European Union L 164/63
DECISION OF THE EEA JOINT COMMITTEE No 326/2022
of 9 December 2022
amending Annex IX (Financial services) to the EEA Agreement [2023/1268]
THE EEA JOINT COMMITTEE,
Having regard to the Agreement on the European Economic Area (“the EEA Agreement”), and in particular Article 98
thereof,
Whereas:
(1) Commission Delegated Regulation (EU) 2022/1011 of 10 March 2022 supplementing Regulation (EU)
No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards
specifying how to determine the indirect exposures to a client arising from derivatives and credit derivatives
contracts where the contract was not directly entered into with the client but the underlying debt or equity
instrument was issued by that client(1)is to be incorporated into the EEA Agreement.
(2) Annex IX to the EEA Agreement should therefore be amended accordingly,
HAS ADOPTED THIS DECISION:
Article 1
The following point is inserted after point 14azzd (Commission Delegated Regulation (EU) 2022/676) of Annex IX to the
EEA Agreement:
‘14azze. 32022 R 1011: Commission Delegated Regulation (EU) 2022/1011 of 10 March 2022 supplementing
Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical
standards specifying how to determine the indirect exposures to a client arising from derivatives and credit
derivatives contracts where the contract was not directly entered into with the client but the underlying debt or
equity instrument was issued by that client (OJ L 170, 28.6.2022, p. 22).’
Article 2
The text of Delegated Regulation (EU) 2022/1011 in the Icelandic and Norwegian languages, to be published in the EEA
Supplement to the Official Journal of the European Union, shall be authentic.
Article 3
This Decision shall enter into force on 10 December 2022, provided that all the notifications under Article 103(1) of the
EEA Agreement have been made*.
Article 4
This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European
Union.
(1) OJ L 170, 28.6.2022, p. 22.
* No constitutional requirements indicated.L 164/64 EN Official Journal of the European Union 29.6.2023
Done at Brussels, 9 December 2022.
For the EEA Joint Committee
The President
Kristján Andri STEFÁNSSON