EC Amends OTC Derivative Rules in Preparation for No-Deal Brexit
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.
Related Links
Effective Date: April 11, 2019
Keywords: Europe, EU, Banking, Securities, EMIR, OTC Derivatives, CCPs, Risk Management, Brexit, Withdrawal Agreement, Clearing Obligation, EC
Related Articles
|
News
BCBS and IOSCO Extend Implementation of Final Phase of Margin RulesBCBS and IOSCO agree to one-year extension of the final implementation phase of the margin requirements for non centrally cleared derivatives.
July 23, 2019
WebPage
Regulatory News
|
|
News
APRA Proposes Stronger Remuneration Requirements in AustraliaAPRA is proposing to strengthen prudential requirements for remuneration across all APRA-regulated entities in the banking, insurance, and superannuation industries by issuing CPS 511, a new prudential standard on remuneration.
July 23, 2019
WebPage
Regulatory News
|
|
News
PRA Consults on Availability of Group Own Funds Under Solvency IIPRA published a consultation paper (CP16/19) that sets out its proposed approach to the determination of the availability of subordinated liabilities and preference shares in group own funds.
July 22, 2019
WebPage
Regulatory News
|
|
News
EIOPA Consults on Methodological Principles for Insurer Stress TestingEIOPA published a discussion paper on the methodological principles for stress testing the insurance sector in EU.
July 22, 2019
WebPage
Regulatory News
|
|
News
US Agencies Adopt Rule to Exclude Community Banks from Volcker RuleUS Agencies (CFTC, FDIC, FED, OCC, and SEC) adopted a final rule to exclude community banks from the Volcker Rule, in line with amendments to certain sections of the Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act.
July 22, 2019
WebPage
Regulatory News
|
|
News
US Agencies Adopt Amendments to Simplify Regulatory Capital RulesUS Agencies (FDIC, FED, and OCC) adopted a final rule that reduces regulatory burden by simplifying several requirements in the regulatory capital rules for banks.
July 22, 2019
WebPage
Regulatory News
|
|
News
IA of Hong Kong Delegates Inspection and Investigation Powers to HKMAHKMA and IA of Hong Kong jointly issued a statement announcing the delegation of the inspection and investigation powers of IA to HKMA, pursuant to the statutory regulatory regime for insurance intermediaries under the Insurance Ordinance.
July 19, 2019
WebPage
Regulatory News
|
|
News
FSB Extends Implementation Timeline for Policy Recommendations on SFTsFSB announced adjustments to the implementation timelines for its recommendations on securities financing transactions (SFTs), specifically those related to the minimum haircut standards for non-centrally cleared SFTs.
July 19, 2019
WebPage
Regulatory News
|
|
News
EBA Single Rulebook Q&A: Third Update for July 2019EBA published answers to six questions under the Single Rulebook question and answer (Q&A) tool this week.
July 19, 2019
WebPage
Regulatory News
|
|
News
EBA Report Assesses Regulatory Framework for Fintech ActivitiesEBA published the findings of its analysis on the regulatory framework applicable to fintech firms when accessing the market.
July 18, 2019
WebPage
Regulatory News
|
