ESMA decided to extend the response date for all ongoing consultations with a closing date on, or after, March 16 by four weeks. The list includes consultations on guidelines for internal controls for credit rating agencies (consultation now closes on April 13, 2020), guidelines on securitization repository data completeness and consistency thresholds (comment period closes on April 13, 2020), and draft regulatory technical standards under the Benchmarks Regulation (consultation now ends on June 08, 2020). The outbreak of the COVID-19 significantly impacted the activities of all market stakeholders imposing a reprioritization of efforts to address the crisis. Therefore, ESMA has found it appropriate to ensure that input to consultation papers is not altered by the ability of stakeholders to provide responses.
Related Link: Press Release
Keywords: Europe, EU, Banking, Securities, Securitization Regulation, Credit Rating Agencies, Internal Controls, Regulatory Technical Standards, Benchmarks Regulation, COVID 19, ESMA
Leading economist; commercial real estate; performance forecasting, econometric infrastructure; data modeling; credit risk modeling; portfolio assessment; custom commercial real estate analysis; thought leader.
Previous ArticleECB Announces Additional COVID-19 Relief Measures for Banks
The European Banking Authority (EBA) published the final draft regulatory technical standards on disclosure of investment policy by investment firms, under the Investment Firms Regulation (IFR).
The European Banking Authority (EBA) published version 5.1 of the filing rules for supervisory reporting.
The European Central Bank (ECB) Guideline 2021/1829 on the procedures for the collection of granular credit and credit risk data has been published in the Official Journal of European Union.
The Australian Prudential Regulation Authority (APRA) published the prudential practice guide CPG 511 to assist banks, insurers, and superannuation licensees in meeting requirements of CPS 511, the new prudential standard on remuneration.
The Office of the Comptroller of the Currency (OCC) published a bulletin that provides an updated self-assessment tool for banks to evaluate their preparedness for cessation of the London Interbank Offered Rate (LIBOR).
The Financial Stability Board (FSB) published a report that examines the progress made toward disclosures aligned with recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
The Basel Committee on Banking Supervision (BCBS) published the progress report on adoption of the Basel III regulatory framework in member jurisdictions.
The French Prudential Supervisory Authority (ACPR) has implemented, in its information system, updates linked to the Data Point Model (DPM) version 3.1.
The European Banking Authority (EBA) published a thematic note that aims to identify and raise awareness of the transition risks of benchmark rates, as the London Interbank Offered Rate (LIBOR) and the Euro Overnight Index Average (EONIA) are close to being phased out.
In a letter to the federally regulated financial institutions and pension plans, the Office of the Superintendent of Financial Institutions (OSFI) published a summary of the feedback received to the January 2021 discussion paper on ways to address climate risks.