Retain fundamental EMIR-principles like the hedging exemption

In our current statement we assess the amendments proposed by EU parliamentarians to revise the derivatives regulation EMIR. On the positive side, some proposed amendments reject the abolition of the reporting exemption for intragroup transactions. Others, however, want to delete the hedging exception, which we reject however. This would mean that companies with a large derivatives exposure would be subject to the clearing obligations, even if they only use derivatives in their risk management.