In connection with its application to be recognized as a Qualifying Central Counterparty, OCC encourages the European Commission in a letter to extend transitional periods for own funds requirements for exposures related to CCPs. As noted in a prior comment on the last implementing regulation that extended the transitional periods to June 15, 2017, OCC agrees with the concerns expressed in the draft regulation that European institutions could be harmed and markets could be disrupted if the transitional periods are not extended to December 15, 2017.