Featured Product

    ECB Issued Opinion on a Proposal for Regulation Related to CCPs

    October 04, 2017

    ECB published its opinion on proposal for a regulation about the procedures and authorities involved for the authorization of central counterparties (CCPs) and the recognition of third-country CCPs; this proposal for regulation amends EU Regulation No 1095/2010 and Regulation No 648/2012 on over-the-counter (OTC) derivatives, CCPs, and trade repositories (EMIR).

    In accordance with the first sentence of Article 17.5 of the Rules of Procedure of the ECB, the Governing Council has adopted the opinion. ECB strongly supports the initiative set out in the EC proposal to enhance the role of the relevant members of the European System of Central Banks (ESCB), as central banks of issue of the currencies of financial instruments cleared by CCPs, in the process for the supervision of Union CCPs and the recognition of third-country CCPs. ECB strongly welcomes and supports the proposal that the Eurosystem, as the central bank of issue of the euro, should play a more meaningful role with respect to EU and third-country CCPs. The proposed regulation envisages an enhanced role for the Eurosystem as central bank of issue for the euro in the framework under EMIR. Where ECB recommends that the proposed regulation is amended, specific drafting proposals are set out in a separate technical working document accompanied by an explanatory text to this effect.

    On August 22, 2017 and September 15, 2017 respectively, ECB had received requests from the Council of the EU and the European Parliament, respectively, for an opinion on the proposal for a regulation of  amending Regulation (EU) No 1095/2010 establishing an ESA (ESMA) and amending Regulation (EU) No 648/2012 on the procedures and authorities involved for the authorization of CCPs and requirements for the recognition of third-country CCPs. The competence of ECB to deliver an opinion is based on Articles 127(4) and 282(5) of the Treaty on the Functioning of the EU.

     

    Related Links

    Keywords: Europe, EU, Securities, CCP, Regulation 648/2012, Regulation 1095/2010, OTC Derivatives, ESMA, EC, ECB

    Related Articles
    News

    OCC Revises Minimum Threshold for Banks to Conduct Stress Tests

    OCC issued the final rule that amends its company-run stress testing requirements under the 12 CFR 46 in Code of Federal Regulations.

    October 10, 2019 WebPage Regulatory News
    News

    US Agencies Update Management Interlock Rules Under DIMIA

    US Agencies (FDIC, FED, and OCC) issued a final rule that increases the thresholds in the major assets prohibition for management interlocks for purposes of the Depository Institution Management Interlocks Act (DIMIA).

    October 10, 2019 WebPage Regulatory News
    News

    US Agencies Finalize Rules to Closely Match Bank Risk Profiles

    US Agencies (OCC, FED, and FDIC) finalized rules that tailor the regulations for domestic and foreign banks to more closely match their risk profiles.

    October 10, 2019 WebPage Regulatory News
    News

    CPMI-IOSCO and FSB on Governance Arrangements for OTC Derivatives

    CPMI and IOSCO published a report that identifies key criteria, functions, and bodies for the governance arrangements.

    October 09, 2019 WebPage Regulatory News
    News

    EIOPA Launches Field Test on Templates Under 2020 Solvency II Review

    EIOPA, as part of the 2020 Solvency II reporting and disclosure review, launched a field test on the revised and newly proposed reporting templates.

    October 09, 2019 WebPage Regulatory News
    News

    US Agencies Adopt Rule on Appraisals for Real Estate Transactions

    US Agencies (FDIC, FED, and OCC) adopted the final rule to amend regulations requiring appraisals of real estate for certain transactions

    October 08, 2019 WebPage Regulatory News
    News

    US Agencies Finalize Amendments to Simplify Volcker Rule

    US Agencies (CFTC, FDIC, FED, OCC, and SEC) finalized amendments to the regulations implementing section 13 of the Bank Holding Company Act, also known as the Volcker Rule.

    October 08, 2019 WebPage Regulatory News
    News

    EC Report Explores Application and Challenges of Blockchain Technology

    The Joint Research Center of EC published a report exploring the challenges and impact of distributed ledger technologies.

    October 08, 2019 WebPage Regulatory News
    News

    BIS and SNB Sign Agreement on Innovation Hub Center in Switzerland

    BIS and SNB signed an operational agreement on the BIS Innovation Hub Center in Switzerland.

    October 08, 2019 WebPage Regulatory News
    News

    ECB Issues Results of Sensitivity Analysis of Liquidity Risk for Banks

    ECB published results of 2019 stress test on sensitivity analysis of liquidity risk.

    October 07, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3958