Featured Product

    ESMA Consults On CCP Anti-Procyclicality Margin Measures

    January 08, 2018

    ESMA is consulting on draft guidelines on anti-procyclicality margin measures for central counterparties (CCPs). The guidelines aim to clarify the implementation of anti-procyclicality provisions for CCPs under the European Markets Infrastructure Regulation (EMIR). Stakeholder feedback is due by February 28, 2018 and ESMA will finalize the guidelines by the first half of 2018.

    Competent authorities must notify ESMA whether they comply or intent to comply with these guidelines, stating the reasons for non-compliance, within two months from the date of publication of the guidelines. In absence of a response by the deadline, competent authorities will be considered non-compliant. The guidelines are addressed to national competent authorities that supervise CCPs authorized under EMIR and seek to promote consistent and uniform application of EMIR and its regulatory technical standards on the:

    • Monitoring of margin procyclicality
    • Implementation of anti-procyclicality margin measures
    • Disclosures to facilitate margin predictability

    The draft guidelines address the observations made in the EMIR Review Report No. 2 on the efficiency of margin requirements to limit procyclicality and the 2016 Peer Review on the Supervisory activities on CCP’s Margin and Collateral requirements. EMIR requires CCPs to monitor and account for procyclical effects of margins and make disclosures on its risk management practices, including the models they use for the calculation of margins. CCPs also need to implement anti-procyclicality margin measures.

     

    Related Links

    Comment Due Date: February 28, 2018

    Keywords: Europe, EU, Securities, CCPs, EMIR, Anti-Procyclicality Margin, Reporting, ESMA

    Featured Experts
    Related Articles
    News

    MAS Concludes Blockchain Payments Prototype Shows Commercial Potential

    MAS and Temasek jointly released a report to mark the successful conclusion of the fifth and final phase of Project Ubin, which focused on building a blockchain-based multi-currency payments network prototype.

    July 13, 2020 WebPage Regulatory News
    News

    PRA Publishes Public Working Draft of XBRL Taxonomy 1.2.0 for Insurers

    PRA published a public working draft, or PWD, of version 1.2.0 of the BoE Insurance XBRL taxonomy, along with the related technical artefacts.

    July 13, 2020 WebPage Regulatory News
    News

    CPMI Report Sets Out Building Blocks to Enhance Cross-Border Payments

    CPMI published a report that sets out nineteen building blocks for a global roadmap to improve cross-border payments.

    July 13, 2020 WebPage Regulatory News
    News

    EBA Publishes Phase 2 of Technical Package on Reporting Framework 2.10

    EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.

    July 10, 2020 WebPage Regulatory News
    News

    APRA Updates Reporting Validation Rules in July 2020

    APRA updated the lists of the Direct to APRA (D2A) validation rules for authorized deposit-taking institutions, insurers, and superannuation entities.

    July 10, 2020 WebPage Regulatory News
    News

    PRA to Partly Apply EBA Guidelines on Disclosures for COVID Measures

    PRA updated the statement that provides guidance to regulated firms on implementation of the EBA guidelines on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis.

    July 10, 2020 WebPage Regulatory News
    News

    EBA Updates List of Correlated Currencies Under CRR

    EBA updated the 2019 list of closely correlated currencies that was originally published in December 2013.

    July 10, 2020 WebPage Regulatory News
    News

    ESMA Guides on Securitization Repository Data Consistency Thresholds

    ESMA published the final report on the guidelines on securitization repository data completeness and consistency thresholds.

    July 10, 2020 WebPage Regulatory News
    News

    FASB Proposes to Delay Implementation of Insurance Contracts Standard

    FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).

    July 09, 2020 WebPage Regulatory News
    News

    APRA Updates Regulatory Approach to Loan Deferrals Amid COVID Crisis

    APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.

    July 09, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5480