Featured Product

    FSB Consults on Governance Arrangements for Unique Product Identifier

    October 03, 2017

    FSB published a consultation document on the governance arrangements for the unique product identifier (UPI). The document sets out proposals for the governance arrangements for a global UPI, as a key harmonized identifier designed to facilitate effective aggregation of transaction reports about over-the-counter (OTC) derivatives markets. Comments are due by November 13, 2017.

    The FSB consultation document identifies key criteria and functions for the UPI governance arrangements and seeks feedback on certain issues related to UPI service providers, cost recovery and fee models, and the reference data library that will underlie the UPI system. FSB expects to publish a further consultation in early 2018 on proposals for allocation of the UPI governance functions to various entities and further aspects of the UPI service provider model. It is envisaged that one or more UPI service providers will be selected during 2018. FSB also published a consultation on unique transaction identifier (UTI) governance arrangements in March 2017 and expects to finalize its conclusions shortly.

    This consultation complements the work of CPMI and IOSCO as they develop guidance on harmonization of data elements that are reported to trade repositories. On September 28, CPMI and IOSCO published their finalized technical guidance on the UPI. Under the technical guidance, a unique UPI code would be assigned to each distinct OTC derivative product and each UPI code would map to a set of data comprised of reference data elements with specific values that together describe the product. The primary purpose of the UPI is to identify the product that is the subject of OTC derivative transactions. A UPI would be assigned to each product enabling regulators to aggregate data on OTC transactions by product using either the UPI or individual underlying data elements that make up the UPI.

     

    Related Links

    Keywords: International, Securities, UPI, Governance Arrangements, OTC Derivatives, Trade Repository, FSB

    Related Articles
    News

    PRA Consults on Approach to Supervising Liquidity and Funding Risks

    In consultation paper (CP27/19), PRA published a proposal (CP27/19) to update the supervisory statement SS24/15 on the PRA approach to supervising liquidity and funding risk.

    October 17, 2019 WebPage Regulatory News
    News

    US Agencies Consult on Policy Statement on Allowance for Credit Losses

    US Agencies (FDIC, FED, NCUA, and OCC) are consulting on the policy statement on allowances for credit losses and on the guidance on credit risk review systems.

    October 17, 2019 WebPage Regulatory News
    News

    FSI Paper Examines Use of Suptech Initiatives by Financial Authorities

    The Financial Stability Institute (FSI) of BIS published a paper that examines the suptech developments by analyzing suptech initiatives of 39 financial authorities globally.

    October 17, 2019 WebPage Regulatory News
    News

    FSB Report Examines Implementation and Impact of G20 Financial Reforms

    FSB published fifth annual report on the implementation and effects of the G20 financial regulatory reforms.

    October 16, 2019 WebPage Regulatory News
    News

    EBA Launches Consultation on Comprehensive Pillar 3 Disclosures

    EBA proposed the new comprehensive implementing technical standard (ITS) for public disclosures by financial institutions.

    October 16, 2019 WebPage Regulatory News
    News

    EBA Consults on Revised Technical Standards on Supervisory Reporting

    EBA launched a consultation on the revised implementing technical standards, or ITS, on supervisory reporting.

    October 16, 2019 WebPage Regulatory News
    News

    BCBS Report Examines Progress on Adoption of Basel Framework

    BCBS published the seventeenth progress report on adoption of Basel regulatory framework.

    October 16, 2019 WebPage Regulatory News
    News

    BoE and FCA Examine Use of Machine Learning in Financial Sector in UK

    BoE and FCA published a report on the results of a joint survey by BoE and FCA in 2019 to better understand the use of machine learning in the financial services sector in UK.

    October 16, 2019 WebPage Regulatory News
    News

    FSB Report Examines Implementation of OTC Derivative Reforms

    FSB published annual progress report on implementation of the agreed G20 reforms for over-the-counter (OTC) derivatives markets.

    October 15, 2019 WebPage Regulatory News
    News

    APRA Proposes Measures to Strengthen Capital for Bank Depositors

    APRA proposed changes to APS 111, which is the prudential standard on measuring capital adequacy and establishes the criteria for regulatory capital requirements of authorized deposit-taking institutions.

    October 15, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3981