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Market Infrastructure
EU Banking Bodies Request Delay of T2-T2S Consolidation Project
By Manesh Samtani | 17/05/2020
The associations have cited impacts from Covid-19 and SWIFT’s decisions to delay ISO 20022 migration for cross-border payments as the primary reasons for the requested delay.
Securities / Derivatives
CBIRC Green-lights China Pacific Insurance GDR Listing on LSE
By Editors | 11/05/2020
The listing is still pending approvals from securities regulators in China and the UK, and exchange operators in Shanghai and London.
Capital / Liquidity
UK Regulators Defer Majority of Regulatory Initiatives
By Editors | 11/05/2020
Incoming Basel requirements and margin rules will be deferred. The transition away from LIBOR will continue as planned. Work is still underway to prepare for Brexit.
AML / KYC
European Commission Sets Out Action Plan to Root Out AML Loopholes
By Editors | 10/05/2020
A single EU rulebook will minimise interpretation and implementation discrepancies across member states, and an EU-level AML/CFT body will address supervisory gaps.
Market Infrastructure
ESMA Approves Four Trade Repositories for SFTR Reporting
By Editors | 10/05/2020
DTCC, UnaVista, KDPW and REGIS-TR will have their TR registrations for derivatives contracts under EMIR extended to include securities financing transactions under SFTR.
Market Infrastructure
EU Benchmark Equivalence Regime Not Scalable: ISDA, FIA
By Manesh Samtani | 07/05/2020
While the Associations welcome the legal approach taken, they highlight that the draft equivalence decision excludes the widely referenced Nikkei and JPX benchmarks.
Market Infrastructure
ECB Seeks Further Guidance from SWIFT on ISO 20022 Delay
By Editors | 06/05/2020
The request follows a March decision by SWIFT’s Board to extend the original timeline for implementation of ISO 20022 for cross-border payments by one year to end-2022.
Market Infrastructure
Industry Bodies Request Margin Exemption Extensions under EMIR
By Manesh Samtani | 06/05/2020
ISDA and other industry associations are asking for equivalence decisions for all jurisdictions that have implemented margin rules in line with the BCBS-IOSCO framework.
Market Infrastructure
FCA Extends Deadline for Lenders to Stop Issuing New LIBOR Loans
By Editors | 30/04/2020
The deadline extension for lenders is a response to Covid-19, as the FCA seeks to avoid disrupting the flow of loans to help companies stay afloat during the pandemic.
Capital / Liquidity
ECB Officials Push for ‘Bad Bank’ to Clean Up NPLs – Report
By Editors | 21/04/2020
ECB officials are concerned that the coronavirus pandemic will trigger a surge in NPLs that could hamper banks’ ability to lend.
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