FSB Publishes Responses to Consultation on UPI Governance Arrangements

By Regulatory News

June 04, 2018

FSB published responses to the second consultation on governance arrangements for the Unique Product Identifier (UPI). The second consultation was published in April 2018 and comments were due by May 28, 2018. The consultation had set out proposals for the governance arrangements for a global UPI, as a key harmonized identifier designed to facilitate effective aggregation of transaction reports from over-the-counter (OTC) derivatives markets.

FSB has published 17 responses from institutions such as Bloomberg, Depository Trust & Clearing Corporation (DTCC), Derivatives Service Bureau, German Investment Funds Association (BVI), Global Legal Entity Identifier Foundation (GLEIF), IHS Markit, International Organization for Standardization (ISO), and ISDA and Global Financial Markets Association. The first consultation was issued in October 2017.

The primary purpose of the UPI is to identify the product that is the subject of an OTC derivatives transaction. CPMI and IOSCO had 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

Keywords: International, Banking, Securities, UPI, Governance Arrangements, OTC Derivatives, Responses to Consultation, FSB

IMF Publishes Reports on 2018 Article IV Consultation with Thailand

ESRB Updates the Summary of National Macro-Prudential Measures


News MAS Amends Notice 610 on Reporting Templates for Banks in Singapore MAS published amendments to Notices 610 and 1003 related to submission of statistics and returns, along with the reporting templates and frequently asked questions (FAQs) associated with these Notices. January 24, 2020 WebPage Regulatory News
News HKMA Updates Policy Module on Supervisory Review Process HKMA is issuing, by notice in the Gazette, revised versions of two Supervisory Policy Manual modules as statutory guidelines under section 7(3) of the Banking Ordinance. The Supervisory Policy Manual modules are CA-G-5 on “Supervisory Review Process” and SB-2 on “Leveraged Foreign Exchange Trading.” January 24, 2020 WebPage Regulatory News
News PRA Amends Pillar 2 Capital Framework for Banks PRA published the policy statement PS2/20 that contains the final amendments to the Pillar 2 framework and provides feedback to responses to the consultation paper CP5/19 on updates related to Pillar 2 capital framework. January 23, 2020 WebPage Regulatory News
News BIS Survey Examines Progress of Central Banks Toward Digital Currency BIS published a paper that presents the results of a survey that asked central banks how their plans are developing in the area of central bank digital currency (CBDC). January 23, 2020 WebPage Regulatory News
News FED Proposes to Revise Information Collection Under Market Risk Rule FED proposed to revise and extend, for three years, FR 4201, which is the information collection under the market risk capital rule. January 22, 2020 WebPage Regulatory News
News HKMA Consults on Stay Rules on Financial Contracts Under FIRO HKMA published proposals for making rules related to contractual stays on termination rights in financial contracts for authorized institutions under FIRO or the Financial Institutions (Resolution) Ordinance (Cap. 628). January 22, 2020 WebPage Regulatory News
News MAS Amends Notices on Minimum Liquid Asset Requirements for Banks MAS published amendments to Notices 1015, 613, and 649 related to the minimum liquid assets (MLA) requirements. January 21, 2020 WebPage Regulatory News
News APRA Publishes Submission on Fintech and Regtech APRA published its submission, to the Senate Select Committee, on financial technology and regulatory technology. January 21, 2020 WebPage Regulatory News
News OSFI to Implement Operational Risk Capital Rules for Banks in Q1 2022 OSFI decided to move domestic implementation of the revised Basel III operational risk capital requirements from the first quarter of 2021 to the first quarter of 2022. January 20, 2020 WebPage Regulatory News
News ECB Consults on Guideline on Threshold for Credit Obligations Past Due ECB published a draft guideline, along with the frequently asked questions (FAQs), on the definition of the materiality threshold for credit obligations past due for less significant institutions. January 20, 2020 WebPage Regulatory News

RESULTS 1 - 10 OF 4541