ESMA updated the question and answers (Q&A) document on the European Benchmarks Regulation. Following the publication of Regulation (EU) 2019/2089 on the EU Climate Transition Benchmarks, EU Paris-aligned Benchmarks, and sustainability-related disclosures for benchmarks, the modified Q&A provide clarification on the transitional provisions applicable to third-country benchmarks.
The Benchmarks Regulation (EU Regulation No 2016/1011) covers indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds. The purpose of this Q&A document is to promote common supervisory approaches and practices in the application of the Benchmarks Regulation. It provides responses to questions posed by the public, market participants, and competent authorities in relation to the practical application of the Benchmarks Regulation. The content of this document is aimed at competent authorities under the Regulation to ensure that in their supervisory activities their actions are converging along the lines of the responses adopted by ESMA. It also provides guidance to market participants by providing clarity on the Benchmarks Regulation requirements.
Keywords: Europe, EU, Banking, Securities, Benchmarks Regulation, Q&A, Third Country Benchmarks, ESMA
Previous ArticleBCB Publishes Proposal for Regulatory Sandbox
The European Commission (EC) published three Delegated Regulations (2021/2153, 2021/2154, and 2021/2155) to supplement the Investment Firms Directive (IFD or Directive 2019/2034).
The Financial Stability Board (FSB) published a report that presents results of the sixth non-bank financial intermediation monitoring exercise in the Americas.
The Bank for International Settlements (BIS) published the December issue of the Quarterly Review, which analyzes the non-bank financial intermediation mechanisms that could undermine financial stability.
The Bank of England (BoE) opened the Alternative Liquidity Facility, or ALF, for deposits from the participating UK-based Islamic banks for the first time.
APRA issued a letter on the loss-absorbing capacity (LAC) requirements for domestic systemically important banks (D-SIBs) and published a discussion paper, along with the proposed the prudential standards on financial contingency planning (CPS 190) and resolution planning (CPS 900).
The European Banking Authority (EBA) launched three consultations on technical aspects of the revised framework capturing interest rate risks for banking book (IRRBB) positions, with the comment period ending on April 04, 2022.
The European Commission (EC) launched a call for evidence, until March 18, 2022, as part of a comprehensive review of the macro-prudential rules for the banking sector under the Capital Requirements Regulation (CRR) and Directive (CRD IV).
The European Banking Authority (EBA) published the sample of banks for the mandatory Basel III monitoring exercise, which will refer to the December 2021 data.
The Board of Governors of the Federal Reserve System (FED) is adopting a proposal to revise and extend for three years the Complex Institution Liquidity Monitoring Report (FR 2052a) for banks.
The Financial Stability Board (FSB) published a report that sets out good practices for crisis management groups.