ESMA updated its question and answer (Q&A) document on the implementation of the Central Securities Depository Regulation (CSDR). This update provides detailed answers on certain aspects of relevant authorities, conduct of business rules, protection of securities, and prudential requirements on operational risk.
CSDR is intended to harmonize certain aspects of the settlement cycle and settlement discipline and to provide a set of common requirements for CSDs operating securities settlement systems across the EU. The CSDR Q&A provide common answers to questions regarding practical issues on the implementation of the new CSDR regime. Q&A are intended to promote common supervisory approaches and practices in the application of CSDR. The aim is to ensure that national competent authorities in their CSDR supervisory activities are converging along the lines of the responses adopted by ESMA.
Keywords: Europe, EU, Securities, CSDR, CSD, Q&A, ESMA
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EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).
FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.
IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.
FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).
EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.
ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.
PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.
US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.
IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.