ESMA announced that, on July 02, 2019, the Financial Services and Markets Authority (FSMA) of Belgium has authorized European Money Markets Institute (EMMI) as the administrator of EURIBOR under the Benchmark Regulation. This decision was followed by the positive advice of the EURIBOR College of Supervisors. EURIBOR is now considered compliant with the Benchmark Regulation and has been added to the ESMA benchmark register. This means that the EU-supervised entities will be able to use EURIBOR after the end of the applicable Benchmark Regulation transitional period. Regarding EONIA, EMMI intends to apply to the FSMA for authorization of EONIA in September 2019. FSMA will make a decision on the authorization of EONIA in the coming months.
Keywords: Europe, EU, Banking, Securities, EURIBOR, EONIA, EMMI, Interest Rate Benchmarks, Benchmarks Regulation, Benchmarks Register, FSMA, ESMA
EBA published an erratum for the technical package on phase 2 of the reporting framework 3.0.
MAS amended Notice 643A that addresses requirements for banks to prepare statements of exposures and credit facilities to related concerns or parties.
ECB has published, in the Official Journal of the European Union, the Guideline 2021/565 on the euro short-term rate (€STR) and this guideline amends the previous ECB Guideline 2019/1265.
EBA launched a consultation on the draft regulatory technical standards on the list of countries with an advanced economy for calculating the equity risk under the alternative standardized approach (FRTB-SA).
PRA is proposing, via CP7/21, the approach to implementing new requirements related to the specification of the nature, severity, and duration of an economic downturn in the internal ratings-based (IRB) approach to credit risk.
The UK government launched the Recovery Loan Scheme (RLS) as part of its continued COVID-19 support for UK businesses, as announced by HM Treasury on March 03, 2021.
FSB published a letter, from its Chair Randal K. Quarles, to the G20 Finance Ministers and Central Bank Governors, ahead of their virtual meeting on April 07, 2021.
OSFI issued a letter to the deposit-taking institutions issuing covered bonds and announced the unwinding of the temporary increase to the covered bond limit for deposit-taking institutions, effective immediately.
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