EU & UK Reg Round Up: 14/03/2024

Corinne Jones -

European Banking Authority 

EBA have published a final draft technical standards on complaints handling  - 13 March 2024 

The draft RTS sets out the requirements, templates, and procedures for handling complaints received by issuers of asset reference tokens (ARTs). This fulfils the mandate set by the EBA on regulating the markets for Crypto-Assets. 

EBA today publish final guidelines on national lists or registers of credit services - 05 March 2024  

According to Article 9 (1) Directive 2021/2167, the competent authorities of each member state need to establish and maintain a list or a national register, of all credit services authorised to provide services in the member states. This list is now available 24/7, on the website of the competent authority.  

EBA consults on draft technical standards for off-balance sheet items - 04 March 2024

Under the standardized approach for credit risk, the exposure value of off-balance sheet exposures depends on certain percentages depending on the bucket classification. The CRR3 will now introduce amendments to update the applicable percentages, which includes the introduction of an adjusted weighting scheme and an additional bucket, increasing the risk buckets from 4 to 5, and conversion factor possibilities to 10%,20%,30%,40%,50%,100%. 

 

ESMA 

ESMA have published the annual transparency calculations for equity and equity like instruments - 01 March 2024  

The study finds that there are 1,193 liquid shares and 914 liquid equity like instruments other than shares, which meet the MiFID II/ MiFIR transparency requirements. The full list of assessed products can be find through XML file provided on the ESMA FITRS website. 

 

Federal Reserve 

FED release final rule that updating risk management requirements for FMUs - 08 March 2024 

The Federal Reserve Board has issued a final rule updating risk management requirements for certain systemically important financial market utilities (FMUs). These updates offer guidance on risk management practices that FMUs must adhere to. FMUs play a crucial role in providing the essential infrastructure to clear and settle payments and other financial transactions, which allows the financial markets to function effectively.