ESMA published the official translations of its guidelines on stress test scenarios under Article 28 of the Money Market Funds (MMF) Regulation. The national competent authorities to which these guidelines apply must notify ESMA whether they comply or intend to comply with the guidelines, within two months of the date of publication by ESMA of the guidelines in all EU official languages. In the absence of a response by this deadline, competent authorities will be considered as non-compliant.
These guidelines apply to the national competent authorities, MMF, and managers of MMF, as defined in MMF Regulation (EU 2017/1131). These guidelines apply from the dates specified in Articles 44 and 47 of the MMF Regulation. MMF Regulation shall apply from July 21, 2018, with the exception of Articles 11(4), 15(7), 22, and 37(4), which shall apply from July 20, 2017. In accordance with Article 28(7) of the MMF Regulation, these guidelines will be updated at least every year taking into account the latest market developments.
Keywords: Europe, EU, Securities, Stress Testing, Stress Test Scenario, MMF Regulation, Translation, ESMA
The European Commission (EC) announced plans to defer the application of 13 regulatory technical standards under the Sustainable Finance Disclosure Regulation (2019/2088) by six months, from January 01, 2022 to July 01, 2022.
The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.
The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.
Certain regulatory authorities in the US are extending period for completion of the review of certain residential mortgage provisions and for publication of notice disclosing the determination of this review until December 20, 2021.
The Prudential Regulation Authority (PRA) published the policy statement PS18/21, which introduces an amendment in the definition of "higher paid material risk taker" in the Remuneration Part of the PRA Rulebook.
The European Banking Authority (EBA) published its annual report on asset encumbrance in banking sector.
The European Banking Authority (EBA) published a methodological guide to mystery shopping.
The Australian Prudential Regulation Authority (APRA) released a letter to authorized deposit-taking institutions to provide an update on key policy settings for the capital framework reforms, which will come into effect from January 01, 2023.
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published a report that assesses the business continuity planning activities of financial market infrastructures or FMIs.
The European Securities and Markets Authority (ESMA) has responded to the IFRS consultation on targeted amendments to the IFRS Foundation constitution to accommodate an International Sustainability Standards Board (ISSB) to set IFRS Sustainability Standards.