Reg Round Up: installment 2

European Banking Authority

30 May 2023 - EBA publishes results on impact and calibration of standardised approaches for counterparty risk

The European Banking Authority (EBA) published its Report on the impact and calibration of the Standardised Approach to Counterparty Credit Risk (SA-CCR), simplified SA-CCR and Original Exposure Method (OEM). The impact of setting alpha equal to 1 under SA-CCR for the purposes of the output floor (OF) on a permanent basis is also analysed.

26 May 2023 - ESAs launch discussion on criteria for critical ICT third-party service providers and oversight fees

The European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published a joint Discussion Paper seeking stakeholders’ input on aspects of the Digital Operational Resilience Act (DORA). This Discussion Paper follows the European Commission’s request for technical advice on the criteria for critical ICT third-party providers (CTPPs) and the oversight fees to be levied on them. Interested stakeholders are invited to provide their input by 23 June 2023.

ESMA

31 May 2023 - Amended rules for transparency calculations to start applying on 5 June 2023

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, informs stakeholders that the amended RTS 1 and RTS 2, under MiFIR, will start applying on 5 June 2023. Some of the amendments will have an impact on the transparency calculations for equity, equity-like and non-equity instruments.

31 May 2023 - ESMA launches Fifth Stress Test Exercise for Central Counterparties

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, launched its fifth Stress Test Exercise for Central Counterparties (CCPs) under the European Markets Infrastructure Regulation (EMIR). The CCP Stress Test framework is complemented by an adverse market scenario provided by the European Systemic Risk Board (ESRB).

Bank of England

26 May 2023 - Joint statement from FCA, PRA and Bank of England on the government’s proposed amendments to the CCP run-off regime

The FCA and the PRA are responsible for the supervision of regulated banks to which certain central counterparties (CCPs) provide services. The Bank of England is responsible for the supervision of CCPs in the UK.

Financial Conduct Authority

31 May 2023 - US dollar LIBOR panel – 1 month to go

FCA issues final messages before the important end-June 2023 deadline. It is now 1 month until the US dollar LIBOR panel ends on 30 June 2023. This is the last remaining LIBOR panel and its end marks another critical milestone in the transition away from LIBOR.

Office of the Comptroller of the currency

30 May 2023 - OCC Issues Third and Fourth Quarter 2023 CRA Evaluation Schedule

The Office of the Comptroller of the Currency (OCC) released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the third and fourth quarters of 2023.