EC published the Implementing Decisions determining that regulatory framework for derivatives transactions in Australia, Brazil, Canada, Hong Kong, Singapore, and US is equivalent to the EU rules. The Decisions recognize the legal, supervisory, and enforcement arrangements applicable to derivatives transactions supervised by APRA, BCB, OSFI, HKMA, MAS, and US Agencies as equivalent to certain requirements of the European Market Infrastructure Regulation (EMIR). The covered US Agencies are Farm Credit Administration, FDIC, Federal Housing Finance Agency, FED, and OCC. This Decision shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.
- Equivalence Decision for Australia
- Equivalence Decision for Brazil
- Equivalence Decision for Canada
- Equivalence Decision for Hong Kong
- Equivalence Decision for Singapore
- Equivalence Decision for US
Effective Date: July 26, 2021
Keywords: Europe, Asia Pacific, Americas, Hong Kong, Australia, Singapore, US, Canada, Brazil, Banking, Securities, Equivalence Decisions, Derivatives, EMIR, US Agencies, HKMA, APRA, MAS, OSFI, BCB, EC
Previous ArticleBIS Reports Discuss Policy Issues Facing Financial Sector
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 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 Financial Stability Board (FSB) published a report that sets out good practices for crisis management groups.
The Australian Prudential Regulation Authority (APRA) found that Heritage Bank Limited had incorrectly reported capital because of weaknesses in operational risk and compliance frameworks, although the bank did not breach minimum prudential capital ratios at any point and remains well-capitalized.
The Office of the Superintendent of Financial Institutions (OSFI) released the annual report for 2020-2021.
Through a letter addressed to the banking sector entities, the Office of the Superintendent of Financial Institutions (OSFI) announced deferral of the domestic implementation of the final Basel III reforms from the first to the second quarter of 2023.
EIOPA recently published a letter in which EC is informing the European Parliament and Council that it could not adopt the set of draft regulatory technical standards for disclosures under the Sustainable Finance Disclosure Regulation (SFDR) within the stipulated three-month period, given their length and technical detail.
The Financial Conduct Authority (FCA) published the third in a series of policy statements that set out rules to introduce the UK Investment Firm Prudential Regime (IFPR), which will take effect on January 01, 2022.
The Australian Prudential Regulation Authority (APRA) published, along with a summary of its response to the consultation feedback, an information paper that summarizes the finalized capital framework that is in line with the internationally agreed Basel III requirements for banks.
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) issued a consultative report focusing on access to central counterparty (CCP) clearing and client-position portability.