Featured Product

    EC Amends Equivalence Decisions in Relation to UK CCPs and CSDs

    April 05, 2019

    EC published implementing decisions (EU) 2019/544 and (EU) 2019/545, which shall enter into force on the day following that of their publication in the Official Journal of the European Union. The Implementing decision (EU) 2019/545 amends Decision (EU) 2018/2030 determining, for a limited period of time, that the regulatory framework applicable to central securities depositories (CSDs) of UK is equivalent in accordance with Regulation (EU) No 909/2014. Implementing decision (EU) 2019/544 amends Decision (EU) 2018/2031 determining, for a limited period of time, that the regulatory framework applicable to central counterparties (CCPs) in UK is equivalent, in accordance with European Market Infrastructure Regulation or EMIR (Regulation (EU) No 648/2012). These amendments are a result of the extension in the date of the withdrawal of UK from EU.

    Additionally, ESMA announced that it has adopted new recognition decisions for three CCPs—–LCH Limited, ICE Clear Europe Limited, and LME Clear Limited—and one CSD—Euroclear UK and Ireland Limited—established in UK to reflect the extension to the Article 50 of the Treaty of the European Union period to April 12, 2019. Following the adoption of the amended equivalence decisions in relation to UK CCPs and the CSD by EC, ESMA has accordingly issued the new recognition decisions to make sure that UK CCPs and the CSD are recognized in the event of a no-deal Brexit. 

     

    Related Links

    Effective Date: April 05, 2019 

    Keywords: Europe, EU, UK, Banking, Securities, CCPs, CSD, Equivalence Decisions, EMIR, Brexit, No-Deal Brexit, Decision 2019/2030, Decision 2018/2031, EC, ESMA

    Related Articles
    News

    EBA Single Rulebook Q&A: Second Update for November 2019

    EBA updated the Single Rulebook question and answer (Q&A) tool with answers to eight questions that relate to the Bank Resolution and Recovery Directive (BRRD) and the Capital Requirements Regulation and Directive (CRR and CRD).

    November 15, 2019 WebPage Regulatory News
    News

    FASB Delays Effective Dates for CECL, Leases, and Hedging Standards

    FASB issued two Accounting Standards Updates finalizing the delays in effective dates for standards on current expected credit losses (CECL), leases, hedging, and long-duration insurance contracts.

    November 15, 2019 WebPage Regulatory News
    News

    ESMA Updates Q&A on Securitization Regulation in November 2019

    ESMA updated questions and answers (Q&A) on the Securitization Regulation (Regulation 2017/2402).

    November 15, 2019 WebPage Regulatory News
    News

    HKMA Announces Finalization of Banking Liquidity Amendment Rules 2019

    HKMA issued a letter informing all authorized institutions that negative vetting of the Banking (Liquidity) (Amendment) Rules 2019 (BLAR) has now expired. Thus, the BLAR will now come into operation from January 01, 2020.

    November 15, 2019 WebPage Regulatory News
    News

    BCBS Consults on Revised Disclosures for Market Risk Framework

    BCBS launched a consultation on the revised disclosure requirements for the market risk framework for banks.

    November 14, 2019 WebPage Regulatory News
    News

    BCBS Consults on Disclosure Templates of Sovereign Exposures of Banks

    BCBS published a consultation on the voluntary disclosure templates related to sovereign exposures of banks.

    November 14, 2019 WebPage Regulatory News
    News

    PRA Publishes Final Policy on Maintenance of TMTP Under Solvency II

    PRA published the policy statement (PS25/19) that contains the final supervisory statement (SS6/16) on maintenance of the transitional measure on technical provisions (TMTPs) under Solvency II.

    November 14, 2019 WebPage Regulatory News
    News

    FSB Examines Implementation of Resolution Regimes in Financial Sector

    FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions and sets out plans for further work.

    November 14, 2019 WebPage Regulatory News
    News

    IAIS Adopts ComFrame, ICS, and Holistic Framework for Systemic Risk

    IAIS adopted a comprehensive set of reforms—Common Framework (ComFrame), Insurance Capital Standard (ICS) Version 2.0, and Holistic Framework for Systemic Risk—that will enable effective cross-border supervision of insurance groups and contribute to global financial stability.

    November 14, 2019 WebPage Regulatory News
    News

    PRA Publishes Templates for Statistical Disclosures Under Solvency II

    PRA published templates for statistical disclosures, as required under Article 31(2) of the Solvency II Directive.

    November 14, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4157