Featured Product

    ESAs Consult on Amendments to Joint EMIR Standards

    May 04, 2018

    ESAs launched two joint consultations to amend regulatory technical standards on the clearing obligation and risk mitigation techniques for uncleared OTC derivatives. The standards aim to amend the current European Market Infrastructure Regulation (EMIR) on the clearing obligation and risk-mitigation techniques on OTC derivatives not cleared by central counterparties (CCPs), to provide a specific treatment for simple, transparent, and standardized (STS) securitization. Comments to these consultations can be sent to EBA and ESMA until June 15, 2018.

    The securitization regulation and the amended EMIR provide a specific treatment for STS securitizations in relation to the clearing obligation and on risk-mitigation techniques on non-cleared OTC derivatives frameworks. The consultation on the draft regulatory technical standards on the clearing obligation clarifies which arrangements under covered bonds or securitizations adequately mitigate counterparty risk and, thus, may benefit from an exemption from the clearing obligation. The consultation on the draft regulatory technical standards on risk-mitigation techniques aims to extend the type of special treatment currently associated with covered bonds to STS securitizations. The proposed treatment—that is, no exchange of initial margins and collection only of variation margins—is applicable only where the STS securitization structure meets a specific set of conditions equivalent to the ones required for covered bonds issuers to be able to benefit of that same treatment. ESAs have developed these two consultation papers in accordance with Articles 4 and 11 of EMIR, as amended under Article 42 of the Securitization Regulation. 

     

    Related Links

    Comment Due Date: June 15, 2018

    Keywords: Europe, EU, Banking, Insurance, Securities, Regulatory Technical Standards, EMIR, Securitization Regulation, STS Securitization, ESAs

    Related Articles
    News

    EBA Updates Filing Rules for Supervisory Reporting

    The European Banking Authority (EBA) published version 5.1 of the filing rules for supervisory reporting.

    October 19, 2021 WebPage Regulatory News
    News

    ECB Amends Guideline on Procedures for Collection of AnaCredit Data

    The European Central Bank (ECB) Guideline 2021/1829 on the procedures for the collection of granular credit and credit risk data has been published in the Official Journal of European Union.

    October 19, 2021 WebPage Regulatory News
    News

    ECB Amends Guideline on Procedures for Collection of AnaCredit Data

    The European Central Bank (ECB) Guideline 2021/1829 on the procedures for the collection of granular credit and credit risk data has been published in the Official Journal of European Union.

    October 19, 2021 WebPage Regulatory News
    News

    EBA Publishes Standards on Disclosure of Investment Policy Under IFR

    The European Banking Authority (EBA) published the final draft regulatory technical standards on disclosure of investment policy by investment firms, under the Investment Firms Regulation (IFR).

    October 19, 2021 WebPage Regulatory News
    News

    APRA Finalizes Guidance for New Prudential Standard on Remuneration

    The Australian Prudential Regulation Authority (APRA) published the prudential practice guide CPG 511 to assist banks, insurers, and superannuation licensees in meeting requirements of CPS 511, the new prudential standard on remuneration.

    October 18, 2021 WebPage Regulatory News
    News

    OCC Updated LIBOR Self-Assessment Tool for Banks

    The Office of the Comptroller of the Currency (OCC) published a bulletin that provides an updated self-assessment tool for banks to evaluate their preparedness for cessation of the London Interbank Offered Rate (LIBOR).

    October 18, 2021 WebPage Regulatory News
    News

    TCFD Updates Guidance for Financial Disclosures on Climate Risk

    The Financial Stability Board (FSB) published a report that examines the progress made toward disclosures aligned with recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

    October 14, 2021 WebPage Regulatory News
    News

    BCBS Report Examines Progress on Adoption of Basel III Framework

    The Basel Committee on Banking Supervision (BCBS) published the progress report on adoption of the Basel III regulatory framework in member jurisdictions.

    October 14, 2021 WebPage Regulatory News
    News

    ACPR Implements Updates Related to DPM Version 3.1

    The French Prudential Supervisory Authority (ACPR) has implemented, in its information system, updates linked to the Data Point Model (DPM) version 3.1.

    October 14, 2021 WebPage Regulatory News
    News

    EBA Note Examines Transition Risks of Benchmark Rates

    The European Banking Authority (EBA) published a thematic note that aims to identify and raise awareness of the transition risks of benchmark rates, as the London Interbank Offered Rate (LIBOR) and the Euro Overnight Index Average (EONIA) are close to being phased out.

    October 14, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7571