ESMA extends temporary CCP collateral emergency measures by six months

Document Summary:

Title: European Securities and Markets Authority (ESMA) Final Report: ESMAu00e2u20acu00c3u201a/ Nationu00e2u20acu02dcs Bank Guaranteeu00e2u20acu02dcs backstop Guaranteeu00e2u20acu02dcs financial markets regulatoru00e2u20acu02dcnana Supervisoru00e2u20acu02dcnu00e2u20acu02dcs financial markets Authorityu00e2u20acu02dcnu00e2u20acu02dcs financial markets Supervisoru00e2u20acu02dcs financial markets regulatoru00e2u20acu02dcreviewsu00e2u20acu02dcs financial markets regulatoru00e2u20acu02dcs financial markets guardianu00e2u20acu02dc u00e2u20acu02dcs financial markets regulator, Supervisor of Insuranceu00e2u20acu02dcnu00e2u20acu02dcs financial markets regulatoru00e2u20acu02dc u00e2u20acu0153nu00e2u20acu02dcs financial u00e2u20acu02dcs financial markets Supervisoru00e2u20acu02dc Financialu00e2u20acu02dcnu00e2u20acu02dcs financial markets Supervisoru00e2u20acu02dcnu00e2u20acu02dcs Financialu00e2u20acu02dcnu00e2u20acu02dcs financial markets Authorityu00e2u20acu02dcnu00e2u20acu02dcs financial markets regulatoru00e2u20acu02dcnu00e2u20acu02dcs supervisoru00e2u20acu02dcnu00e2u20acu02dcs financial markets Supervisoru00e2u20acu02dcnu00e2u20acu02dcnu00e2u20acu02dcs financial markets regulatoru00e2u20acu02dcnu00e2u20acu02dcs Financial Market Authorityu00e2u20acu02dcnu00e2u20acu02dcs financial markets Authorityu00e2u20acu02dcnu00e2u20acu02dcnu00e2u20acu02dcs financialu00e2u20acu02dcnu00e2u20acu02dcs financial markets regulatoru00e2u20acu02dcnu00e2u20acu02dcs financial markets Authorityu00e2u20acu02dcnu00e2u20acu02dcs financial markets Supervisoru00e2u20acu02dcnu00e2u20acu02dcs financial markets regulatoru00e2u20acu02dcnu00e2u20acu02dcs financial markets Authorityu00e2u20acu02dcnu00e2u20acu02dcs guaranteeu00e2u20acu02dcnu00e2u20acu02dcs financial markets regulatoru00e2u20acu02dcnu00e2u20acu02dcs financial markets Authorityu00e2u20acu02dcnu00e2u20acufffdu2018s financial markets regulatoru00e2u20acu02dcnu00e2u20acu02dcs financial markets Authority obtaining of the European Securities and Markets Authority (ESMA), the European Parliament, and the European Councilu00e2u20acu02dc

Summary:

The European Securities and Markets Authority (ESMA) has published a Final Report on the extension of its powers to intervene in the activities of central counterparties (CCPs) under the European Markets Infrastructure Regulation (EMIR). The report summarizes the results of the ESMA’s consultation on the proposal, which was published in November 2016. The extension of ESMA’s powers aims to enhance the stability and resilience of the financial system by allowing ESMA to intervene in the activities of CCPs in cases where they pose a threat to the stability of the financial system.

The report highlights the need for a robust and flexible regulatory framework that enables ESMA to effectively supervise and regulate CCPs. It also emphasizes the importance of protecting the interests of businesses and consumers in the financial markets.

The proposed extension of ESMA’s powers includes the ability to:

1. Temporarily restrict or suspend the activities of a CCP in cases where it poses a threat to the stability of the financial system.
2. Impose remedies on a CCP that has failed to comply with ESMA’s standards and requirements.
3. Order a CCP to take specific actions to address identified risks or threats to the stability of the financial system.

The report also outlines the ESMA’s methodology for assessing the impact of the proposed changes on the financial system and the economy.

In conclusion, the ESMA’s Final Report aims to enhance the stability and resilience of the financial system by allowing ESMA to intervene in the activities of CCPs in cases where they pose a threat to the stability of the financial system.

Additional Information:

The European Securities and Markets Authority (ESMA) is the competent authority responsible for the regulation and supervision of the securities and markets in the European Union.

The proposed extension of ESMA’s powers is part of the European Union’s efforts to strengthen the regulatory framework for financial markets and enhance the stability of the financial system.

The European Securities and Markets Authority (ESMA) is a independent authority that operates under the European System of Financial Supervision (ESFS) and is responsible for ensuring the stability, integrity, and transparency of the financial markets.

The European Parliament and the European Council have the power to amend or repeal the proposed changes to ESMA’s powers.

References:

European Securities and Markets Authority (ESMA). (2016). Consultation on the extension of ESMA’s powers to intervene in the activities of central counterparties (CCPs) under the European Markets Infrastructure Regulation (EMIR).
European Securities and Markets Authority (ESMA). (2017). Final Report on the extension of ESMA’s powers to intervene in the activities of central counterparties (CCPs) under the European Markets Infrastructure Regulation (EMIR).

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