What changed, Regulation (EU) No 648/2012

+ 6. A CCP shall provide its clearing members with a simulation tool allowing them to determine the amount of additional initial margin, on a gross basis, that the CCP may require upon the clearing of a new transaction. That tool shall only be accessible on a secured access basis, and the results of t…
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+ 7. A CCP shall provide its clearing members with information on the initial margin models it uses. That information shall:
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+ (a) clearly explain the design of the initial margin model and how it operates;
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+ (b) clearly describe the key assumptions and limitations of the initial margin model and the circumstances under which those assumptions are no longer valid;
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+ (c) be documented.
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+ 11. Member States' national insolvency laws shall not prevent a CCP from acting in accordance with Article 48(5), (6) and (7) with regard to the assets and positions recorded in accounts as referred to in paragraphs 2 to 5 of this Article.