EC published the Delegated Regulations 2019/564 specifying the date until which counterparties may continue to apply their risk-management procedures for certain over-the-counter (OTC) derivative contracts not cleared by a central counterparty (CCP). Also published was the Delegated Regulation 2019/565, which sets out the date at which the clearing obligation takes effect for certain types of contracts.
Both the amending regulations shall enter into force on the day following that of their publication in the Official Journal of the European Union. These regulations will become applicable in the event of a no-deal Brexit. The Delegated Regulation 2019/564 amends the Delegated Regulation 2016/2251 supplementing European Market Infrastructure Regulation, or EMIR (Regulation No 648/2012). In addition, the Delegated Regulation 2019/565 amends Delegated Regulations 2015/2205, 2016/592, and 2016/1178 supplementing EMIR.
Effective Date: April 11, 2019
Keywords: Europe, EU, Banking, Securities, EMIR, OTC Derivatives, CCPs, Risk Management, Brexit, Withdrawal Agreement, Clearing Obligation, EC
Previous ArticleOSFI Finalizes Guidelines on Liquidity Adequacy and NSFR Disclosures
ECB finalized the guide on assessment methodology for the internal model method for calculating exposure to counterparty credit risk (CCR) and the advanced method for own funds requirements for credit valuation adjustment (A-CVA) risk.
EBA published an Opinion addressed to EC to raise awareness about the opportunity to clarify certain issues related to the definition of credit institution in the upcoming review of the Capital Requirements Directive and Regulation (CRD and CRR).
APRA is consulting on updates to ARS 210.0, the reporting standard that sets out requirements for provision of information on liquidity and funding of an authorized deposit-taking institution.
FED released hypothetical scenarios for a second round of stress tests for banks.
PRA published updates in relation to the 2021 Supervisory Benchmarking Portfolio exercise.
FED adopted a proposal to extend for three years, with revision, the capital assessments and stress testing reports (FR Y-14A/Q/M; OMB No. 7100-0341).
HKMA revised the Supervisory Policy Manual module CR-G-14 on margin and other risk mitigation standards for non-centrally cleared over-the-counter (OTC) derivatives transactions.
EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.
EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.