All clients that are affected by EMIR must have a client categorisation; please see below. This categorisation affects the reporting, clearing requirements and risk management for the company.

  • Financial counterparties (FC), e.g. banks, insurance companies, UCITs and securities companies: 
    FCs which exceed the clearing threshold are categorised as FC+, and
    FCs which are below the clearing threshold are categorised as FC-.
  • Non-financial counterparties (NFC): all entities which are not considered FC:
    NFCs which exceed the clearing threshold are categorised as NFC+; and
    NFCs which are below the clearing threshold are categorised as NFC-.

For more information on clearing and clearing thresholds, see Clearing.

On 17 June 2019, an amendment regulation to EMIR called EMIR Refit entered into force. The main changes included in EMIR Refit are:

  • Financial counterparties are required to report for NFCs that are below the clearing threshold. For more information, see the section below on Reporting.
  • Changes to the clearing requirement and the method for assessing whether a company exceeds or is below the clearing threshold. For more information, see Clearing.

Exemption from exchange of collateral for companies belonging to the same Group

In accordance with EMIR article 11, p. 6, Swedbank AB has been granted an exemption from the requirement to exchange collateral for non-cleared derivatives between the following companies within Swedbank Group:

  • Swedbank Mortgage AB (Swedbank Hypotek AB)
  • Swedbank AS (Estonia)
  • Swedbank AS (Latvia)
  • Swedbank AB (Lithuania)