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EBA: CP On Comprehensive ITS For Financial Institutions Public Disclosure

Date 16/10/2019

The European Banking Authority (EBA) launched today a public consultation on the new comprehensive Implementing Technical Standard (ITS) for financial institutions' public disclosure, designed to promote market discipline. This ambitious proposal seeks to optimise the EBA Pillar 3 policy framework by moving from a silo based approach, with different disclosure policy products, to an all-inclusive ITS. It also implements regulatory changes introduced by the CRR2 and aligns the disclosure framework with international standards.
Sustainability Platform Met At Borsa Istanbul To Discuss YOIKK Action Plan On Sustainable Investment Flows

Date 16/10/2019

Borsa İstanbul was selected as the responsible institution to coordinate efforts for encouraging companies to tap more into sustainable investment flows. Coordination Council for the Improvement of Investment Environment in Turkey (YOIKK) met on August 8, 2019 under the chairmanship of Mr. Fuat OKTAY Vice President – Presidency of the Republic of Turkey. In accordance with the YOIKK Action Plan, Borsa İstanbul will work with regulatory institutions, NGOs, sector organizations and other stakeholders on raising awareness, creating incentives and impoving regulatory environment among other topics.
ESAs Consult On Changes To The Key Information Document For PRIIPs

Date 16/10/2019

The European Supervisory Authorities (ESAs) have today issued a Consultation Paper on amendments to existing rules underpinning the Key Information Document (KID) for Packaged Retail and Insurance-based Investment Products (PRIIPs).
DIFC Records A 45% Rise In Islamic Assets, Marking Significant Year-On-Year Growth - Over 40 Financial Firms Based In The Centre Providing Sharia-Compliant Products And Solutions

Date 16/10/2019

Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, and the number eight global financial centre, has marked a significant rise in Islamic assets being managed in the Centre, recording a 45% growth between Q2 2018 and Q2 2019.
EBA Publishes Opinion On The Deadline And Process For Completing The Migration To Strong Customer Authentication (SCA) For e-commerce Card-Based Payment Transactions

Date 16/10/2019

The European Banking Authority (EBA) published today an Opinion on the deadline for the migration to SCA under the revised Payment Services Directive (PSD2) for e-commerce card-based payment transactions. The Opinion sets the deadline to 31 December 2020 and prescribes the expected actions to be taken during the migration period.

Statement Of Commissioner Dawn D. Stump For CFTC Open Meeting, October 16, 2019 - Extending Compliance Schedule For Phase 5 Of The Margin Rule For Uncleared Swaps

Date 16/10/2019

Regarding the exchange of initial margin (IM) for non-centrally cleared derivatives, now is a good time to step back and reflect on the past implementation phases and to explore in more detail the issues faced by market participants who have, or will in a future phase, become subject to the requirement. This exercise is important, in my view, in order to understand whether there are actions that we, as regulators, can take to mitigate the potential compliance bottleneck that will be caused by an unprecedented number of market participants coming into scope in the last implementation phase.
EBA Launches Consultation On Guidelines On The Application Of The Structural FX Provision

Date 16/10/2019

The European Banking Authority (EBA) launched today a consultation on draft Guidelines on the application of the Structural FX provision. These Guidelines aim at setting a regulatory framework on Structural FX to address the observed diversity in its application across the EU. In particular, the guidelines identify criteria to assist Competent Authorities in their assessment of the structural nature of a foreign-exchange position and whether such position has been deliberately taken for hedging the capital ratio. The consultation runs until 17 January 2020.
Statement Of Concurrence By CFTC Commissioner Rostin Behnam - Margin Requirements For Uncleared Swaps For Swap Dealers And Major Swap Participants (Notice Of Proposed Rulemaking)

Date 16/10/2019

I respectfully concur with the Commodity Futures Trading Commission’s (the “Commission” or “CFTC”) decision today to issue proposed amendments to its regulations that would align the implementation schedule for margin requirements for uncleared swaps applicable to swap dealers (“SDs”) and major swap participants (“MSPs”) for which there is no prudential regulator with the recently revised schedule issued by the Basel Committee on Banking Supervision (“BCBS”) and the International Organization of Securities Commissions (“IOSCO”).[1] This proposal is also consistent with a recently proposed joint rulemaking by the Prudential Regulators that would similarly amend the margin implementation schedule for SDs and MSPs subject to their regulations.
EBA Consults On Supervisory Reporting Changes Related To CRR2 And Backstop Regulation (Framework 3.0)

Date 16/10/2019

The European Banking Authority (EBA) launched today a public consultation on revised Implementing Technical Standards (ITS) on supervisory reporting, which aim to keep the reporting requirements in line with changes in the regulatory framework and with the evolving needs for Supervisory Authorities' risk assessments.
Opening Statement Of CFTC Chairman Heath P. Tarbert Before The Open Commission Meeting On October 16, 2019

Date 16/10/2019

Good morning, and thank you for attending today’s open meeting of the U.S. Commodity Futures Trading Commission (“CFTC”). We have two important items on the agenda: (1) a proposed rule to extend the compliance date for phase five of the CFTC’s margin rule for uncleared swaps (“Margin Rule”), and (2) a proposed rule regarding the application of the Margin Rule to the European Stability Mechanism (“ESM”).