EC is consulting on a draft Implementing Regulation on the extension of the transitional periods on own funds requirements for exposures to central counterparties (CCPs). These transitional periods are set out in the Capital Requirements Regulation (CRR; Regulation (EU) No 575/2013) and the European Markets Infrastructure Regulation (EMIR; Regulation (EU) No 648/2012). The deadline for comments is November 21, 2017.
The 15-month periods referred to in Article 497(2) of CRR and in the second subparagraph of Article 89(5a) of EMIR, as most recently extended in Implementing Regulation (EU) 2017/954, are extended by an additional six months until June 15, 2018. This regulation shall enter into force on the third day following that of its publication in the Official Journal of the European Union. The regulation shall be directly applicable in all member states.
Comment Due Date: November 21, 2017
Keywords: Europe, EU, Securities, Transitional Period, Own Funds Requirement, CCP Exposures, CRR, EMIR, EC
Previous ArticleVP of EC on Working Toward Resilient and Integrated Financial Sector
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.
BCBS and FSB published a report on supervisory issues associated with benchmark transition.
IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.
ESMA updated the reporting manual on the European Single Electronic Format (ESEF).
EBA published a statement on resolution planning in light of the COVID-19 pandemic.
BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework
ECB published a guideline (2020/97), in the Official Journal of European Union, on the definition of materiality threshold for credit obligations past due for less significant institutions.
FED temporarily revised the capital assessments and stress testing reports (FR Y-14A/Q/M) to implement the changes in response to the COVID-19 pandemic.