July 16, 2018

FSB published a self-assessment questionnaire for prospective Unique Product Identifier (UPI) service providers. FSB is seeking responses from entities that wish to be designated by FSB as a service provider for the UPI. Responses should be submitted, using the response template, by September 04, 2018.

Each respondent is asked (by answering specific questions or selectively providing additional documents) to present a business and self-governance plan that explains how the respondent would follow the UPI Technical Guidance and meet the key governance criteria and provide for the relevant governance functions. FSB has issued two consultation documents on aspects of the governance arrangements for the UPI and intends to designate one or more UPI service provider(s) to assign UPIs and maintain a corresponding UPI reference data library to facilitate the unique assignment of a UPI code to each OTC derivatives product.

The primary purpose of the UPI is to identify the product that is the subject of an over-the-counter (OTC) derivatives transaction. CPMI and IOSCO published their finalized technical guidance on the UPI in September 2017. Under the technical guidance, a unique UPI code would be assigned to each distinct OTC derivative product and would map to reference data elements with specific values that together describe the product. To use the data from trade reporting effectively, it is important for authorities to be able to aggregate reporting not only to consider institution-specific risks but also to consider system-wide risks.

 

Related Links

Comment Due Date: September 04, 2018

Keywords: International, Securities, UPI, Governance Arrangements, Self Assessment, Questionnaire, OTC Derivatives, UPI Service Provider, FSB

Related Articles
News

PRA Finalizes Reporting Amendments to Pillar 2 Liquidity Framework

PRA published the final Policy Statement PS13/19 on regulatory reporting amendments and clarifications to the Pillar 2 liquidity framework for banks in UK.

June 17, 2019 WebPage Regulatory News
News

IAIS Consults on Revisions to IAIS Supervisory Material

IAIS has launched a public consultation on revisions to the IAIS supervisory material.

June 14, 2019 WebPage Regulatory News
News

IMF Paper on Implementing Prudential Standards in Developing Economies

IMF published a working paper that provides practical guidance on how developing economies, including non-Basel Committee member countries, could incorporate international standards into their prudential framework.

June 14, 2019 WebPage Regulatory News
News

EBA Single Rulebook Q&A: Second Update for June 2019

EBA published answers to five questions under the Single Rulebook question and answer (Q&A) updates for this week.

June 14, 2019 WebPage Regulatory News
News

FSB Releases Update on Meeting of Regional Consultative Group for Asia

FSB published an update on the meeting of its Regional Consultative Group (RCG) for Asia.

June 14, 2019 WebPage Regulatory News
News

BoE, FCA, and MAS Announce Collaboration on Cyber Security

MAS and UK financial authorities (BoE and FCA) announced that they will work together to strengthen cyber security in their financial sectors.

June 13, 2019 WebPage Regulatory News
News

CBIRC Advisory Committee Holds Meeting, Discusses Regulatory Issues

The first meeting of the International Advisory Committee (IAC) of CBIRC was held in Shanghai from June 11 to 12, 2019.

June 13, 2019 WebPage Regulatory News
News

ECB and EIOPA Publish Common Minimum Standards for Data Revision in EU

ECB and EIOPA published the common minimum standards for supervisory and statistical reporting data by the undertakings in EU.

June 13, 2019 WebPage Regulatory News
News

IMF Reports on 2019 Article IV Consultation with Czech Republic

IMF published its staff report and selected issues report under the 2019 Article IV consultation with Czech Republic.

June 13, 2019 WebPage Regulatory News
News

APRA Response to Proposal on Revisions to Capital Framework for Banks

APRA published a paper in response to the first round of consultation on proposed changes to the capital framework for authorized deposit-taking institutions.

June 12, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3252