May 15, 2018

EC published, in the Official Journal of the European Union, the Commission Implementing Regulation (EU) 2018/708. This regulation lays down implementing technical standards for the template to be used by managers of money market funds (MMFs) when reporting to competent authorities, as stipulated by Article 37 of the Money Market Fund Regulation or MMFR (EU Regulation 2017/1131). The regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. It shall apply from July 21, 2018.

Article 37 of MMFR requires MMFs to provide their competent authorities with a detailed list of information. To ensure consistency in the way these authorities collect such data and to ensure that the said authorities are informed of the main developments in the MMF market and can facilitate a collective analysis of the potential impact of the MMF market in EU, the information needs to be conveyed to the competent authorities in a uniform fashion throughout EU. Moreover, using a standard reporting template makes it easier to carry out the procedures and processes associated with the reporting requirements of MMFs and minimizes the associated costs. To ensure effective supervision in EU, such data must be forwarded to ESMA, so that a central database for MMFs is established. This regulation is based on the draft implementing technical standards submitted by ESMA to EC.

 

Related Links

Effective Date: June 04, 2018

Keywords: Europe, EU, Banking, MMF Regulation, Reporting, Regulation 2018/708, Implementing Technical Standards, EC

Related Articles
News

IMF Releases Report on 2019 Article IV Consultation with United States

IMF published its staff report in the context of the 2019 Article IV consultation with the United States.

June 24, 2019 WebPage Regulatory News
News

BIS Report Discusses Regulatory Issues Related to Big Techs in Finance

BIS has pre-released a chapter of the BIS Annual Economic Report; this chapter focuses on the risks and opportunities presented by large technology firms in the financial services sector.

June 23, 2019 WebPage Regulatory News
News

IOSCO Report Examines Liquidity in Corporate Bond Markets

IOSCO published a report that examines the factors affecting liquidity, under stressed conditions, in the secondary corporate bond markets.

June 21, 2019 WebPage Regulatory News
News

FED Publishes Results of the 2019 Stress Tests for Banks

FED published a report presenting results of the Dodd-Frank Act Stress Test (DFAST) exercise for 2019.

June 21, 2019 WebPage Regulatory News
News

BCBS Report Examines Global Pillar 2 Supervisory Review Practices

BCBS published a report that examines the Pillar 2 supervisory review practices and approaches in Basel member jurisdictions.

June 21, 2019 WebPage Regulatory News
News

IASB Publishes Work Plan and Meeting Updates for June 2019

IASB published an updated work plan and a summary of its June meeting, which presents preliminary decisions of the Board.

June 21, 2019 WebPage Regulatory News
News

HKMA Publishes Banking Exposure Limits Code Under Banking Ordinance

HKMA issued a circular to all authorized institutions informing that the Banking (Exposure Limits) Code has been published in the Gazette on June 21, 2019.

June 21, 2019 WebPage Regulatory News
News

OSFI Proposes Guideline on Internal Model Oversight for Insurers

OSFI proposed the draft guideline E-25 on the internal model oversight framework for federally regulated property and casualty (P&C) insurance companies.

June 21, 2019 WebPage Regulatory News
News

EBA Single Rulebook Q&A: Third Update for June 2019

Under the Single Rulebook question and answer (Q&A) updates for this week, EBA published one answer regarding the calculation of institution-specific countercyclical capital buffer rates.

June 21, 2019 WebPage Regulatory News
News

SEC Finalizes Capital and Margin Requirements for Security-Based Swaps

SEC adopted a package of rules and rule amendments to establish capital, margin, and segregation requirements for security-based swaps, under Title VII of the Dodd-Frank Act.

June 21, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3304