Featured Product

    ESMA Publishes Official Translations for Three Sets of CSDR Guidelines

    March 28, 2018

    ESMA published the official EU language versions of the three sets of guidelines under the Central Securities Depository Regulation (CSDR): guidelines on relevant currencies; guidelines on substantial importance of a Central Securities Depository (CSD); and guidelines on cooperation between authorities. The guidelines on supervisory cooperation apply from the date that is two months after their publication on the ESMA website in all official languages of EU. The other two guidelines apply from the date of their publication on the ESMA website in all official languages of EU.

    Guidelines on relevant currencies. The guidelines aim to establish the process for collection, processing, and aggregation of data and information for the calculation of indicators to determine the most relevant currencies in which settlement takes place. The national competent authorities to which these guidelines apply must notify ESMA whether they comply, or intend to comply, with the guidelines (with reasons for non-compliance), within two months of the date of publication of the guidelines in all EU official languages.

    Guidelines on substantial importance of a CSD. The guidelines aim to establish the process for collection, processing, and aggregation of data and information for the calculation of indicators to determine the substantial importance of a CSD for a host member state, to ensure that all concerned authorities are involved in the authorization procedure and supervision of each CSD. The national competent authorities to which these guidelines apply must notify ESMA whether they comply, or intend to comply, with the guidelines, within two weeks of the date of publication of the guidelines in all EU official languages.

    Guidelines on cooperation between authorities. The purpose of the guidelines is to ensure consistent, efficient, and effective supervisory practices in the EU. The guidelines cover cooperation arrangements between supervisory authorities for the consultation of authorities involved in the procedure for authorizing CSDs under the CSDR. They also address communication between the home and host authorities in relation to a CSD wishing to provide cross-border services. The national competent authorities to which these guidelines apply must notify ESMA whether they comply, or intend to comply, with the guidelines, within two months of the date of publication of the guidelines in all EU official languages.

     

    Related Links

    Effective Date: March 28, 2018 (relevant currencies; importance of CSD); two months from March 28, 2018 (supervisory cooperation)

    Keywords: Europe, EU, Securities, Translation, CSDR, Guidelines, ESMA

    Related Articles
    News

    APRA Revises Related Entities Standard for Banks

    APRA published a strengthened prudential standard APS 222 on associations with related entities, with the aim to mitigate contagion risk within banking groups.

    August 20, 2019 WebPage Regulatory News
    News

    FSB on Responses to Consultation on Wind-Down of Trading Portfolios

    FSB published responses received to the consultation on the solvent wind-down of the derivatives and trading book portfolio of a global systemically important bank (G-SIB).

    August 19, 2019 WebPage Regulatory News
    News

    FSB Publishes Responses to Consultation on Resolvability Disclosures

    FSB published responses received to the consultation on disclosures for resolution planning and resolvability of banks.

    August 19, 2019 WebPage Regulatory News
    News

    HKMA Revises Implementation Schedule for Initial Margin Rules

    HKMA intends to adopt a revised implementation schedule for the margin requirements for non-centrally cleared derivatives.

    August 16, 2019 WebPage Regulatory News
    News

    HKMA Revises Guideline on Application of Banking Disclosure Rules

    HKMA issued a revised version of the Supervisory Policy Manual module CA-D-1 on guideline on the application of the Banking (Disclosure) Rules (BDR).

    August 16, 2019 WebPage Regulatory News
    News

    ECB Decision on Recognizing Reporting Member States Under AnaCredit

    ECB has finalized the Decision 2019/1348 (ECB/2019/20) that establishes procedure for recognizing non-euro area member states as reporting member states under the AnaCredit Regulation (EU 2016/867).

    August 16, 2019 WebPage Regulatory News
    News

    FASB Proposes to Extend CECL Standard Deadline for Certain Entities

    FASB proposed an Accounting Standards Update that would grant private companies, not-for-profit organizations, and certain small public companies additional time to implement FASB standards on current expected credit losses (CECL), leases, and hedging.

    August 15, 2019 WebPage Regulatory News
    News

    IASB Adds Phase Two of IBOR Reform to Its Work Plan

    IASB (or the Board) has added the second phase of its project focused on potential financial reporting implications linked to the interest rate benchmark reform—interbank offer rate (IBOR) reform—to its work plan.

    August 15, 2019 WebPage Regulatory News
    News

    FED Updates Draft Instructions for Proposed FR Y-14 Reporting Forms

    FED updated draft instructions for the monthly, quarterly, and annual capital assessments and stress testing reports, also known as forms FR Y-14M, FR Y-14Q, FR Y-14A, respectively.

    August 15, 2019 WebPage Regulatory News
    News

    FASB Proposes Taxonomy Changes Related to Topics 326, 815, and 842

    FASB is proposing taxonomy improvements for the proposed Accounting Standards Update on clarifying the interactions among topic 321 on investments in equity securities), topic 323 on investments under equity method and joint ventures), and topic 815 on derivatives and hedging.

    August 15, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3665