Follow Us

Follow us on Twitter  Follow us on LinkedIn

Article List:

 

29 September 2014

ESMA consults on proposed list of main indices and recognised exchanges under the CRR


Default: Change to:


The European Securities and Markets Authority has opened a public consultation regarding the Captial Requirements Regulation (CRR). The CRR tasks ESMA with defining “main indices” and “recognised exchanges”, concepts that are used –inter alia - in the specification of “eligible collateral”.


Defining “main indices” and “recognised exchanges” is important for the calculation of credit risk by the credit institutions and investment firms to which that Regulation applies. This CP sets out a proposed rationale for each definition, and includes a draft Implementing Technical Standards (ITS) which contains a proposed list of “main indices” and “recognised exchanges”.

The Capital Requirements Regulation (EU) 575/2013 (CRR) was published in the Official Journal of the European Communities on 27 June 2013 and entered into force on 1 January 2014. ESMA is required to submit draft Implementing Technical Standards (ITS) on main indices and recognised exchanges to the European Commission by 31 December 2014.

According to Articles 10 and 15 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council establishing ESMA (the ESMA Regulation), ESMA must conduct a public consultation before submitting draft ITS to the Commission. This Consultation Paper (CP) therefore seeks stakeholders‟views on the ITS. The input from stakeholders will help ESMA finalise them. Respondents to this CP are encouraged-aged to consider the costs and benefits that the draft ITS would imply and provide the relevant data to support their arguments or proposals.

The CRR tasks ESMA with defining “main indices” and “recognised exchanges”, concepts that are used –inter alia- in the specification of “eligible collateral”, which in turn is important for the calculation of credit risk by the credit institutions and investment firms to which that Regulation applies. This CP sets out a proposed rationale for each definition, and includes a draft ITS which contains a proposed list of “main indices” and “recognised exchanges”.

ESMA will consider all feedback received in relation to this consultation when finalising the draft ITS to be submitted to the European Commission by 31 December 2014 for endorsement.

Full consultation paper



© ESMA


< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information



Add new comment