In July 2012 the Basel Committee on Banking Supervision (BCBS) agreed a revised Regulatory rules text on the capital requirements for bank exposures to central counterparties.

Capital requirements for bank exposures to central counterparties

These rules set out the capital treatment for bank exposures to qualifying central counterparties (QCCP).  A QCCP is defined as ‘an entity that is licensed to operate as a CCP (including a license granted by way of confirming an exemption), and is permitted by the appropriate regulator/overseer to operate as such with respect to the products offered. This is subject to the provision that the CCP is based and prudentially supervised in a jurisdiction where the relevant regulator/overseer has established, and publicly indicated that it applies to the CCP on an ongoing basis, domestic rules and regulations that are consistent with the CPSS-IOSCO Principles for Financial Market Infrastructures’. . .

http://www.fsa.gov.uk/portal/site/fsa/menuitem.10673aa85f4624c78853e132e11c01ca/?vgnextoid=24445ec45227c310VgnVCM2000004fbc10acRCRD&vgnextchannel=de5a7a662c93c310VgnVCM2000004fbc10acRCRD&vgnextfmt=default