Blog: Financial regulation: Weekly update – FXStreet

Highlights

1.SRB updates its Public Interest Assessment (PIA) policy in resolution planning.

2.EBA updates ITS for 2022 benchmarking of internal approaches.

3.ESMA publishes a final report on MIFID II/MIFIR obligations on market data.

4.ESRB issues a report on macroprudential policy issues from a low-interest-rate environment.

5.FSB and IOSCO issue statements to support a smooth transition away from LIBOR by the end of 2021.

Global

FSB and IOSCO issue statements to support a smooth transition away from LIBOR by end of 2021
Set out recommendations for financial and non-financial-sector firms, as well as for the authorities. In addition, IO SCOpub Lishe data the men tomb benchmark transition tha treat rate their po rta nce o fens using smooth transition away from LIBOR.

FSB consults on global targets for addressing challenges for cross-border payments.
The target set goes also for improving cost, speed, transparency, and access for cross-border payment through the actions taken under the roadmap. Final reportis expected in Oct 2021. Deadline: Jul 16, 2021.

Europe

SRB updates its Public Interest Assessment(PIA) policy in resolution planning.
Update the approach to the PIAtotakeintoaccountthatbank’sfailuresmaytakeplacenotonlyunderanidiosyncratic scenario, but also under broader financial instability or system-wide events (SWE).

EBA updates ITS for 2022 benchmarking of internal approaches.
It includes a limited number of additional data fields for credit risk and IFRS9 and some enhancements on h existing data requirements.

ESMA publishes the final report on MIFID II/MIFIR obligations on market data.
Sets out guid line son there quite not stop public market data on a reasonable commercial Asian to make it is available free of charge 15 minutes after publication. Effective from: Jan 1, 2022.

ESRB issues report on macro prudential policy issues from a low-interest-rate environment.
Four risk areas: i) profitability and resilience of banks; ii) indebtedness and viability of borrowers; iii)systemic liquidity risk, and iv) business model of insurers and pension funds with longer-term return guarantees.

ESMA publishes its risk dashboard for 1Q 2021.
Risk reassessment main cast he main risk for EU financial markets, amid the en e heraldic couple ng from security prices from economic fundamentals. 

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