Featured Product

    EC Amends Rule Specifying Data to be Provided by Trade Repositories

    October 07, 2017

    EC published a Commission Delegated Regulation (CDR; EU Regulation 2017/1800) that further specifies the operational standards required to access, aggregate, and compare data across trade repositories. EU Regulation 2017/1800 amends Delegated Regulation (EU) No 151/2013, which supplements European Market Infrastructure Regulation (EMIR: Regulation (EU) No 648/2012). Regulation 2017/1800 shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union and shall apply from November 01, 2017.

    Regulation (EU) No 151/2013 is being amended to further specify and improve the operational framework for accessing, aggregating, and comparing data across trade repositories. These amendments ensure that the entities referred to in Article 81(3) of EMIR are able to access the information necessary to fulfill their respective responsibilities and mandates. EU Regulation 2017/1800 is based on the draft regulatory technical standards submitted by ESMA to the EC. As part of the amendments to the Regulation (EU) No 151/2013, Paragraph 1 of Article 4 is being replaced; Paragraph 2 of Article 4 is being deleted; and Paragraphs 3 to 9 are being added in Article 5. Additionally, the deadlines by which data is provided to the relevant entities by trade repositories should be harmonized to improve the direct and immediate access to trade repository data and allow the relevant entities and the trade repositories to improve the scheduling of their internal data processes.

    This amendment was required because data concerning the latest trade state of derivatives contracts with open interest is essential for monitoring financial stability and systemic risk. Therefore, the relevant entities should have access to that data. The lack of standardized data, uniform functionality, and a standardized message format has impeded the direct and immediate access to data, thus preventing the entities referred to in Article 81(3) of EMIR from effectively assessing systemic risk and fulfilling their respective responsibilities and mandates.

     

    Related Links 

     

    Effective Date: October 27, 2017

    Keywords: Europe, Securities, EMIR, CDR 2017/1800, CDR 151/2013, Trade Repository, OTC Derivatives, EC

    Related Articles
    News

    FSB Publishes List of Global Systemically Important Banks for 2019

    FSB published the 2019 list of global systemically important banks (G-SIBs), using the end-2018 data and an assessment methodology designed by BCBS.

    November 22, 2019 WebPage Regulatory News
    News

    EBA Publishes Roadmap on Risk Reduction Measures Package

    EBA published a set of roadmaps outlining the approach and timelines for delivering the mandates stemming from the Risk Reduction Measures Package adopted by the European Council and European Parliament on May 20, 2019.

    November 21, 2019 WebPage Regulatory News
    News

    EBA Consults on Initial Reporting Requirements for Market Risk

    EBA launched a consultation on the implementing technical standards on supervisory reporting requirements for market risk.

    November 21, 2019 WebPage Regulatory News
    News

    FED Proposes to Extend Initial Compliance Dates Under SCCL Rule

    FED published a proposal to extend, by 18 months, the initial compliance dates for foreign banks subject to the single-counterparty credit limit (SCCL) rule.

    November 20, 2019 WebPage Regulatory News
    News

    CBIRC to Strengthen Supervisory and Policy Support for SME Services

    CBIRC released a notification on strengthening supervision and guidance to enhance the quality and efficiency of financial services for "small and micro-enterprises" (SMEs).

    November 20, 2019 WebPage Regulatory News
    News

    FED Adopts Proposal to Implement Reporting Form for SCCL

    FED adopted a proposal to implement the Single-Counterparty Credit Limits (SCCL) reporting form FR 2590.

    November 20, 2019 WebPage Regulatory News
    News

    APRA Publishes Approach to Regulating and Supervising GCRA Risks

    APRA published an information paper that sets out a more intensive regulatory approach to transform governance, culture, remuneration, and accountability (GCRA) practices across the prudentially regulated financial sector.

    November 19, 2019 WebPage Regulatory News
    News

    US Agencies Update Rule on Derivative Contracts Exposure Calculation

    US Agencies (FDIC, FED, and OCC) announced a final rule updating the way certain banking organizations are required to measure counterparty credit risk for derivative contracts under their regulatory capital rules.

    November 19, 2019 WebPage Regulatory News
    News

    US Agencies Finalize Rule to Amend Treatment of HVCRE Exposures

    US Agencies (FDIC, FED, and OCC) finalized a rule to modify the treatment of high volatility commercial real estate (HVCRE) exposures, as required by the Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act.

    November 19, 2019 WebPage Regulatory News
    News

    US Agencies Finalize Changes to Rule on Supplementary Leverage Ratio

    US Agencies (FDIC, FED, and OCC) finalized changes to the capital requirement for banking organizations predominantly engaged in custodial activities, as required by the Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act.

    November 19, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4177