This Regulation sets out definitions for CCP resolution, including CCP, resolution college, resolution authority, resolution tools and resolution powers, and resolution objectives. It defines competent authority, default event (declared default of one or more clearing members or interoperable CCPs under the cited provisions), non‑default event (losses for reasons other than default, including business, custody, investment, legal or operational failures and cyber‑attacks), resolution plan (Article 12), recovery plan (Article 9), resolution action, crisis prevention measure, early intervention and the default waterfall.

The Regulation further defines relevant persons, infrastructures and instruments: clearing member, client, indirect client, interoperable CCP, linked FMI, trading venue, trade repository, group, third‑country CCP, senior management and board, designated national macroprudential authority, relevant national and third‑country authorities; and financial terms including default fund, pre‑funded resources, initial and variation margin, resolution and recovery cash calls, transfer powers, netting and set‑off arrangements, termination rights, title transfer financial collateral arrangement, covered bonds, debt instruments, derivatives, normal insolvency and third‑country resolution proceedings, instruments of ownership, extraordinary public financial support and the Union State aid framework.