ESMA has already provided input to the European Commission through two reports (on CSD cross border services, and on internalised settlement) published in November 2020, and, in the coming months, will provide further input through the publication of two more reports on banking-type ancillary services, and on the use of technological innovation by CSDs.
In light of the European Commission’s current review of Regulation (EU) No 909/2014 of the European Parliament and of the Council (CSDR), I am writing to highlight to you ESMA’s views on a number of key points that should be addressed in this review.
In addition to this, ESMA would like to bring to the attention of the European Commission through this letter proposals on the following important topics for your consideration as part of the CSDR Review:
1) the status of TARGET2-Securities (T2S);
2) the arrangement for the supervision/oversight of T2S;
3) the third-country CSD (TC-CSD) recognition regime;
4) the frequency of ESMA reports to the European Commission on CSDR implementation
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