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ESAs consult on amendments to joint EMIR standards
The European Supervisory Authorities Authority (ESAs) launched today two joint consultation to amend Regulatory Technical Standards (RTS) on the clearing obligation and risk mitigation techniques for OTC derivatives not cleared. These standards, which implement the European Market Infrastructure Regulation (EMIR), aim to amend the current regulation on the clearing obligation and risk mitigation techniques on OTC derivatives not cleared by a central counterparties (CCPs) in order to provide a specific treatment for simple, transparent and standardised (STS) securitisation and ensure a level playing field with covered bonds. The consultations run until 15 June 2018.
Joint Draft RTS on margin requirements for non-centrally cleared OTC derivatives (JC-2017-79).pdf
Joint Draft RTS on margin requirements for non-centrally cleared OTC derivatives (JC-2017-79)
ESAs publish final draft technical standards amending margin requirements for non-centrally cleared OTC derivatives
The European Supervisory Authorities (EBA, EIOPA, ESMA - ESAs) published today their jointly developed draft Regulatory Technical Standards (RTS) amending the framework of the European Market Infrastructure Regulation (EMIR) with regard to physically settled foreign exchange (FX) forwards. These amendments aim at aligning the treatment of variation margin for physically-settled FX forwards with the supervisory guidance applicable in other key jurisdictions.
Report on the interaction with EMIR (ESAS-2017-82 ).pdf
Report on the interaction with EMIR (ESAS-2017-82 )
EBA and ESMA call to clarify margin requirements between CRR and EMIR
The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) published today their joint report on the functioning of the Capital Requirements Regulation (EU) No 575/2013 (CRR) with the European Market Infrastructure Regulation (EU) No 648/2012 (EMIR). The report calls for the requirements for credit, market, and counterparty credit risk in the CRR to be clarified. This clarification should ensure that only risks not already covered by specific financial resources for activities not related to clearing are to be covered by CRR requirements. This exclusion should also be extended to activities covered by interoperability arrangements.
Regulatory Technical Standards on risk mitigation techniques for OTC derivatives not cleared by a central counterparty (CCP)
These Regulatory Technical Standards (RTS) are to be developed by the Joint Committee of the European Supervisory Authorities (ESAs) will define the risk mitigation techniques to be put in place for OTC derivatives not cleared by a central counterparty (CCP). In particular, it will elaborate on the level of capital and collateral counterparties to derivatives transactions need to maintain, the type of collateral and segregation arrangements as well as on the procedures to apply an intragroup exemption.
ESAs publish final draft technical standards on margin requirements for non-centrally cleared OTC derivatives
The European Supervisory Authorities (EBA, EIOPA, ESMA - ESAs) published today the final draft Regulatory Technical Standards (RTS) outlining the framework of the European Market Infrastructure Regulation (EMIR).
Feedback table for RTS on OTC contracts (JC-2016-19).pdf
Feedback table for RTS on OTC contracts (JC-2016-19)
RTS on Risk Mitigation Techniques for OTC contracts (JC-2016- 18).pdf
RTS on Risk Mitigation Techniques for OTC contracts (JC-2016- 18)
EBA-RTS-2015-10 Final draft RTS on CSDs.pdf
EBA-RTS-2015-10 Final draft RTS on CSDs
Regulatory Technical Standards on prudential requirements for central securities depositories (CSDs)
The draft Regulatory Technical Standards (RTS) on prudential requirements for central securities depositories (CSDs) have been developed within the framework established by the Regulation on settlement and Central Securities Depositories (CSD-R), which aims to increase the safety and efficiency of securities settlement and settlement infrastructures.
EBA defines harmonised prudential requirements for Central Securities Depositories (CSDs)
The European Banking Authority (EBA) published today its draft Regulatory Technical Standards (RTS) on prudential requirements for Central Securities Depositories (CSDs). These RTS will define a prudential framework for CSDs and harmonise calculations for their capital requirements which currently vary across Member States. These RTS have been developed within the framework of the Central Securities Depositories Regulation (CSDR) to increase the safety and efficiency of securities settlement and settlement infrastructures.
Implementing Technical Standards on the Hypothetical Capital of a Central Counterparty (CCP)
The Implementing Technical Standards (ITS) on the reporting of the hypothetical capital of a central counterparty (CCP) relates to prudential requirements for banks’ exposures to central counterparties. In particular, they specify a reporting frequency on a quarterly basis and the template for the information that a CCP has to deliver to all credit institutions and investment firms that are clearing members, as well as to the supervisory authorities competent for those clearing members.
Second Joint Consultation on draft RTS on risk-mitigation techniques for OTC-derivative contracts not cleared by a CCP
JC-CP-2015-002 JC CP on Risk Management Techniques for OTC derivatives .pdf
JC-CP-2015-002 JC CP on Risk Management Techniques for OTC derivatives
ESAs consult on margin requirements for non centrally cleared derivatives
The European Supervisory Authorities (ESAs) launched today a second consultation on draft Regulatory Technical Standards (RTS) outlining the framework of the European Market Infrastructure Regulation (EMIR). This second consultation document is the result of an intense engagement with other authorities and the industry stakeholders in order to identify all the operation issues that may arise from the implementation of such framework. Therefore, the consultation focuses only on a narrow set of topics as most of the decisions have already been agreed following the first consultation held in April 2014. The consultation runs until 10 July 2015.
Regulatory Technical Standards for the specification of margin periods of risk for the treatment of clearing members’ exposures to clients
These Regulatory Technical Standards (RTS) aim to specify the minimum margin periods of risk (MPOR) that institutions acting as clearing members may use for the calculation of their capital requirements for exposures to clients.
Consultation on RTS on prudential requirements for central securities depositories (CSDs)
EBA-CP-2015-02 (CP on RTS on prudential requirements for CSDs).pdf
EBA-CP-2015-02 (CP on RTS on prudential requirements for CSDs)