Featured Product

    EC Regulation Extending Transitional Period for Own Funds Requirements

    June 07, 2017

    To avoid disruption to international financial markets and to prevent penalizing institutions by subjecting them to higher own funds requirements during the processes of recognition of existing third-country central counterparties (CCPs), the EC is extending the transitional periods related to own funds requirements for exposures to central counterparties.

    EC published, in the Official Journal of the European Union, the Commission Implementing Regulation CIR 2017/954, which extends the transitional periods related to own funds requirements for exposures to central counterparties. The fifteen-month periods referred to in Article 497(2) of the Capital Requirement Regulation (CRR or Regulation (EU) No 575/2013) and the second subparagraph of Article 89(5a) of European Markets Infrastructure Regulation (EMIR or Regulation (EU) No 648/2012), respectively, as last extended in accordance with Article 1 of the Implementing Regulation (EU) 2016/2227, are being extended by an additional 6 months until December 15, 2017. The measures provided for in CIR 2017/954 are in accordance with the opinion of the European Banking Committee. This regulation shall enter into force on the third day following that of its publication in the Official Journal of the European Union.

     

    Related Links

    CIR 2017/954 (PDF)

    CRR

    EMIR and Related Laws

    Effective Date: June 10, 2017

    Keywords: Banking, Securities, Europe, EC, EMIR, Own Funds, CCPs

     


    Related Articles
    News

    BCBS Amends Guidelines on Sound Management of AML/CFT Risks

    BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).

    July 02, 2020 WebPage Regulatory News
    News

    US Agencies Finalize Amendments to Swap Margin Rule

    US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.

    July 01, 2020 WebPage Regulatory News
    News

    PRA Letter Sets Expectations on Approach to Managing Climate Risks

    PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.

    July 01, 2020 WebPage Regulatory News
    News

    EBA Guidelines on Treatment of Structural Foreign Exchange Under CRR

    EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).

    July 01, 2020 WebPage Regulatory News
    News

    FSB Issues Statement on Impact of COVID-19 Crisis on Benchmark Reform

    FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.

    July 01, 2020 WebPage Regulatory News
    News

    IAIS Publishes List of Internationally Active Insurance Groups

    IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.

    July 01, 2020 WebPage Regulatory News
    News

    FED Temporarily Revises FR Y-9C With Respect to PPPLF and CARES Act

    FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).

    July 01, 2020 WebPage Regulatory News
    News

    EC Launches Consultation on Review of Solvency II Directive

    EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.

    July 01, 2020 WebPage Regulatory News
    News

    ECB Consults on Supervisory Approach to Consolidation in Banking

    ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.

    July 01, 2020 WebPage Regulatory News
    News

    IAIS on Package for 2020 Data Collection on ICS and Aggregation Method

    IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.

    June 30, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5425