The implementing act exceptionally extends by 12 months (until 28 June 2022) the transitional periods during which institutions can treat exposures to a third-country central counterparty (CCP) that has not been recognised in accordance with Regulation (EU) No 648/2012 as if they were exposures to a recognised CCP. The extension will enable the Commission to finalise its assessments of CCPs equivalence and institutions to properly prepare for the end of the current transitional periods.