The risk management framework must, in the case of the central counterparty’s exposure to counterparty credit risk,—
(a) | take into account the market risk, liquidity risk, legal risk and operational risk normally associated with counterparty credit risk; and |
(b) | ensure that the central counterparty— |
(i) | takes into account the creditworthiness of all relevant counterparties; |
(ii) | takes into account any relevant settlement and pre-settlement risk; |
(iii) | continuously monitors the utilisation of credit lines; |
(iv) | measures its current exposure gross and net of collateral in all relevant cases; and |
(v) | manages all relevant risk exposures at a counterparty and central counterparty-wide level. |