GLEIF has updated the list of current and proposed regulatory activities, including the use of Legal Entity Identifier (LEI). It is the prerogative of the authorities acting in individual jurisdictions to mandate the use of LEIs. GLEIF closely monitors initiatives relevant to legal entity identification in regulatory reporting and supervision and updates this list regularly.
Following the financial crisis, the goal of the drivers of the LEI initiative – the G20, FSB, and many regulators around the world – was to use the LEI to create transparency in the derivatives markets. As demonstrated with the current LEI population, these efforts have generated excellent results. In many jurisdictions worldwide, public authorities rely on the LEI to evaluate risk, take corrective steps, minimize market abuse (if required), and improve the accuracy of financial data.
Related Link: Regulatory Use of the LEI
Keywords: International, Banking, Securities, Insurance, Regulatory Activities, LEI, GLEIF
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ECB published a decision allowing the euro area banks under its direct supervision to exclude certain central bank exposures from the leverage ratio.
ESAs launched a survey seeking feedback on the presentational aspects of product templates under the Sustainable Finance Disclosure Regulation (SFDR or Regulation 2019/2088).
ECB published input of the European System of Central Banks (ESCB) into the EBA feasibility report on reducing the reporting burden for banks in EU.
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.
FED is proposing to temporarily revise the capital assessments and stress testing reports (FR Y-14A/Q/M) to implement the changes necessary to conduct stressed analysis in connection with the re-submission of capital plans, using data as of June 30, 2020.
FED adopted a proposal to extend for three years, with revision, the information collection under the market risk capital rule (FR 4201; OMB No. 7100-0314).
EBA published a voluntary online survey seeking input from credit institutions on their practices and future plans for Pillar 3 disclosures on the environmental, social, and governance (ESG) risks.