Featured Product

    ESMA Consults on Regulatory Standards Under Benchmarks Regulation

    March 09, 2020

    ESMA launched a consultation on regulatory technical standards under the Benchmarks Regulation. The proposed standards cover governance arrangements, methodology, reporting of infringements, mandatory administration of a critical benchmark, and non-significant benchmarks. ESMA will consider the feedback to this consultation in the second quarter of 2020. ESMA expects to publish a final report and submit the draft technical standards to EC for endorsement by October 01, 2020. The closing date for responses from stakeholders is May 09, 2020.

    The outcome of the ESAs Review, Article 5 of Regulation (EU) 2019/2175, had introduced changes to the Benchmarks Regulation or BMR, including a new mandate for ESMA to develop draft regulatory technical standards to further specify certain requirements of the Benchmarks Regulation:

    • Requirements to ensure that the governance arrangements of an administrator are sufficiently robust
    • Conditions that ensure that the methodology an administrator uses to determine a benchmark complies with the relevant requirements in Article 12(1) of the Benchmarks Regulation
    • Characteristics of the systems and controls established by an administrator to ensure the integrity of input data, to be able to identify and report to the competent authority any conduct that may involve manipulation or attempted manipulation of a benchmark
    • Criteria that the competent authority applies when assessing how the benchmark is transitioned to a new administrator or ceases to be provided
    • Criteria under which competent authorities may require changes to the compliance statement


    Related Links

    Comment Due Date: May 09, 2020

    Keywords: Europe, EU, Banking, Securities, Benchmarks Regulation, IBOR Reform, Critical Benchmarks, Regulatory Technical Standards, Governance, ESMA

    Related Articles

    BIS Paper Studies Impact of Fintech Lending on Small Businesses in US

    The Bank for International Settlements (BIS) published a paper that studies impact of fintech lending on credit access for small businesses in U.S.

    September 26, 2022 WebPage Regulatory News

    UK Regulators Issue CRR Changes and Stress Test Scenarios for Banks

    The Prudential Regulation Authority (PRA) issued the policy statement PS8/22 to amend the Own Funds and Eligible Liabilities (CRR) Part of the PRA Rulebook and update the supervisory statement SS7/13 titled "Definition of capital (CRR firms).

    September 26, 2022 WebPage Regulatory News

    EBA Launches EU-Wide Transparency Exercise in 2022

    The European Banking Authority (EBA) launched the EU-wide transparency exercise for 2022, with results of the exercise expected to be published at the beginning of December, along with the annual Risk Assessment Report.

    September 23, 2022 WebPage Regulatory News

    SRB on CRR Quick-Fix to Policy for Multiple Point of Entry Banks

    The Single Resolution Board (SRB) welcomed the adoption of the review of the Capital Requirements Regulation, or CRR, also known as the "CRR quick-fix."

    September 22, 2022 WebPage Regulatory News

    EC Rule Lists Advanced Economies for Market Risk Capital Calculations

    The European Commission (EC) recently adopted the Delegated Regulation 2022/1622, which sets out the regulatory technical standards to specify the countries that constitute advanced economies for the purpose of specifying risk-weights for the sensitivities to equity.

    September 21, 2022 WebPage Regulatory News

    EBA Publishes Final Regulatory Standards on STS Securitizations

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.

    September 20, 2022 WebPage Regulatory News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News

    MAS Launches SaaS Solution to Simplify Listed Entity ESG Disclosures

    The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.

    September 15, 2022 WebPage Regulatory News

    BCBS to Finalize Crypto Rules by End-2022; US to Propose Basel 3 Rules

    The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.

    September 15, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8521