The European Banking Authority (EBA) published today its roadmap on the new market and counterparty credit risk approaches and launched a consultation on eleven draft Regulatory Technical Standards (RTS) on the new Internal Model Approach (IMA) under the FRTB (Fundamental Review of the Trading Book) standards along with a data collection exercise on non-modellable Risk Factors (NMRF). The consultations run until 4 October 2019.
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) today published for public comment A discussion paper on central counterparty default management auctions.
The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers (Q&As) on the implementation of the European Markets Infrastructure Regulation (EMIR). The updated Q&As provide clarifications on the new framework introduced by Regulation 2019/834 amending EMIR (so-called EMIR Refit) and amends an existing Q&A on novation.
The European Securities and Markets Authority (ESMA) has today published three consultation papers under EMIR 2.2 on tiering, comparable compliance and fees. EMIR 2.2 amends EMIR’s regulatory and supervisory regime for central counterparties (CCPs).
The EU will soon have in place simplified rules for non-financial counterparties, small financial counterparties and pension funds using financial derivative products.
Strengthening the Banking Union and Capital Markets Union is a key priority in the legislative work pursued by the Romanian Presidency of the Council of the European Union. 12 legislative files on financial services have been closed after long and constructive negotiations with the European Parliament.