- FSB publishes new consultation on CCP resolution
Based on the answers provided to its previous consultation on CCP resolution of August 2016, the FSB has published a draft guidance document for consultation. Deadline: 13 Mar.
- ESMA updates Q&As on MIFID II regarding transparency and market structure
It clarifies the Systematic Internaliser regime, issues regarding Multilateral Trading Facility and trading venues, and interpretation of the Directive’s reference to market makers.
- ESMA consults on guidelines on transfer of data between Trade Repositories (TRs)
Proposed guidelines establish high-level principles to be followed by TRs, reporting entities and CCPs in order to ensure high quality data for authorities. Deadline: 31 Mar.
- ESMA publishes methodological framework for CCP stress test
Explains details of its upcoming 2017 EU-wide CCP stress test exercise. 17 CCPs will have to provide data by March 2017. Final report expected for Q4 2017.
- EIOPA updates methodology to derive risk-free interest rate term structures
It includes changes in the input data to derive Mexican Peso risk-free interest rates, and the peer country used to derive Latvian government bond’ spreads.
- EIOPA consults on Guidelines on Complex Insurance-Based Investment Products
Publishes guidelines with criteria to describe product features and risks, which may be difficult for the customer to understand. Deadline: 28 Apr.
- EP publishes draft report on FinTech
Calls on the EC to draw up a FinTech Action Plan aiming at a competitive financial system, financial stability and consumer and investor protection.
- OJEU publishes Commission delegated and implementing regulations under EMIR
- EBA publishes annual report on high earners of EU banks in 2015
Report shows a significant increase in the number of high earners who received remuneration in excess of €1 million in 2015 (up by 33% on 2014).
- CNMV issues exemption from EMIR to individual pension funds
Spanish individual pension funds are exempted from the centralised clearing obligation set out in EMIR. Exemption valid until 18 Aug.
- PRA and FCA publish Policy Statement on their decision-making processes
Responding to a previous consultation, changes are introduced to enhance the transparency and effectiveness of the agencies’ enforcement decision-making processes.
- PRA publishes XBRL taxonomy
The new taxonomy, the Data Point Model dictionary, the templates and the validation rules cover the capital reporting requirements set out in PS32/16. BoE will adopt EBA’s filing rules.
- PRA publishes Policy Statement on ring-fencing
It provides feedback on previous consultations regarding ring-fencing implementation, reporting templates and other residual matters.
- FED finalises rule adjusting capital plan and stress testing rules
Reduces burden of CCAR and reporting requirements on large and non-complex firms, as well as the amount of additional capital than can be distributed to shareholders
Recent publications of interest (in English and Spanish):
- Flash. Global | 2016 G-SIBs List. November 2016
- Regulation Watch. New package of banking reforms. November 2016
- Regulation Watch. Europe: TLAC implementation and MREL review. November 2016
- Financial Regulation Outlook. January 2017
- Digital Economy Outlook. January 2017