European System of Financial Supervision

ESMA promotes transparency for TLTRO III transactions

Retrieved on: 
Wednesday, January 6, 2021
European Union, Financial markets, Finance, Financial regulation, Eurozone, European Securities and Markets Authority, International Financial Reporting Standards, European Central Bank, Esma, Central bank, TARGET2, European System of Financial Supervision

06 January 2021

Key Points: 
  • 06 January 2021

    Corporate Finance

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, issues today a public statement promoting transparency in the IFRS financial statements of banks regarding accounting for the third series of the European Central Banks (ECB) Targeted Longer-Term Refinancing Operations (TLTRO III).

  • ESMA observes that, in practice, there is diversity regarding the accounting treatment of the ECBs TLTRO III refinancing transactions by banks.
  • ESMA believes that, given the overall volume of the TLTRO III operations, this matter may have a material effect on the financial statements of banks and may be widespread across the EU.
  • Therefore, ESMA emphasises the importance of providing an adequate level of transparency regarding the accounting treatment of these transactions in the financial statements of banks.

ESMA promotes transparency for TLTRO III transactions

Retrieved on: 
Wednesday, January 6, 2021
European Union, Financial markets, Finance, Financial regulation, Eurozone, European Securities and Markets Authority, International Financial Reporting Standards, European Central Bank, Esma, Central bank, TARGET2, European System of Financial Supervision

06 January 2021

Key Points: 
  • 06 January 2021

    Corporate Finance

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, issues today a public statement promoting transparency in the IFRS financial statements of banks regarding accounting for the third series of the European Central Banks (ECB) Targeted Longer-Term Refinancing Operations (TLTRO III).

  • ESMA observes that, in practice, there is diversity regarding the accounting treatment of the ECBs TLTRO III refinancing transactions by banks.
  • ESMA believes that, given the overall volume of the TLTRO III operations, this matter may have a material effect on the financial statements of banks and may be widespread across the EU.
  • Therefore, ESMA emphasises the importance of providing an adequate level of transparency regarding the accounting treatment of these transactions in the financial statements of banks.

ESMA announces 10 Year Anniversary Conference

Retrieved on: 
Wednesday, December 23, 2020
Government agencies, Financial markets, Given names, Agencies of the European Union, European Union, European System of Financial Supervision, European Securities and Markets Authority, Esma, Financial regulation, Financial Regulator

22 December 2020

Key Points: 
  • 22 December 2020

    Corporate Information

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, will turn 10 on 1 January 2021 and, as part of our anniversary celebrations, we will host an online conference on 23 March to reflect on the progress the Authority has made as a financial regulator and look to its future.

  • ESMA starts its second decade as a mature market supervisory authority and a key component of the EUs regulatory framework together with the other European Supervisory Authorities and the European Systemic Risk Board.
  • The anniversary event will look back at how ESMA has evolved into the regulator it is today and examine its future role in the EUs capital markets as their focus shifts towards greater integration and a more sustainable and digital future.
  • Confirmed participants include:

    The event is scheduled to take place between 15:00 and 19:00 (CET) on the afternoon of 23 March.

ESMA announces 10 Year Anniversary Conference

Retrieved on: 
Tuesday, December 22, 2020
Government agencies, Financial markets, Given names, Agencies of the European Union, European Union, European System of Financial Supervision, European Securities and Markets Authority, Esma, Financial regulation, Financial Regulator

22 December 2020

Key Points: 
  • 22 December 2020

    Corporate Information

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, will turn 10 on 1 January 2021 and, as part of our anniversary celebrations, we will host an online conference on 23 March to reflect on the progress the Authority has made as a financial regulator and look to its future.

  • ESMA starts its second decade as a mature market supervisory authority and a key component of the EUs regulatory framework together with the other European Supervisory Authorities and the European Systemic Risk Board.
  • The anniversary event will look back at how ESMA has evolved into the regulator it is today and examine its future role in the EUs capital markets as their focus shifts towards greater integration and a more sustainable and digital future.
  • Confirmed participants include:

    The event is scheduled to take place between 15:00 and 19:00 (CET) on the afternoon of 23 March.

ESMA updates EMIR Q&As

Retrieved on: 
Tuesday, December 22, 2020
Financial markets, Government agencies, Agencies of the European Union, European Union, Given names, Esma, European Securities and Markets Authority, Jos, Security, European System of Financial Supervision, Committee of European Securities Regulators

The Board of Supervisors of the European Securities and Markets Authority (ESMA) has appointed Mr Jos Heuvelman, who...

Key Points: 

The Board of Supervisors of the European Securities and Markets Authority (ESMA) has appointed Mr Jos Heuvelman, who...

ESMA appoints new chair of its Supervisory Convergence Standing Committee

Retrieved on: 
Thursday, December 17, 2020
European Union, Government agencies, Given names, Financial markets, European Securities and Markets Authority, AFM, Esma, Single Supervisory Mechanism, Financial regulation, European System of Financial Supervision, European Insurance and Occupational Pensions Authority

17 December 2020

Key Points: 
  • 17 December 2020

    Board of Supervisors

    Corporate Information

    Press Releases

    Supervisory convergence

    The Board of Supervisors of the European Securities and Markets Authority (ESMA) has appointed Mr Jos Heuvelman, who is a Member of Executive Board of the Autoriteit Financile Markten(AFM) of the Netherlands, to serve as the chair of the Supervisory Convergence Standing Committee (SCSC) and as chair of the Senior Supervisors Forum.

  • The SCSCs mandate includes:

    The standing committees are expert groups drawn from ESMA staff and Member States national competent authorities for securities markets regulation, and are responsible for the development of policy in their respective areas.

  • The appointment is effective immediately and will run until 1 February 2023.

ESMA appoints new chair of its Supervisory Convergence Standing Committee

Retrieved on: 
Thursday, December 17, 2020
European Union, Government agencies, Given names, Financial markets, European Securities and Markets Authority, AFM, Esma, Single Supervisory Mechanism, Financial regulation, European System of Financial Supervision, European Insurance and Occupational Pensions Authority

17 December 2020

Key Points: 
  • 17 December 2020

    Board of Supervisors

    Corporate Information

    Press Releases

    Supervisory convergence

    The Board of Supervisors of the European Securities and Markets Authority (ESMA) has appointed Mr Jos Heuvelman, who is a Member of Executive Board of the Autoriteit Financile Markten(AFM) of the Netherlands, to serve as the chair of the Supervisory Convergence Standing Committee (SCSC) and as chair of the Senior Supervisors Forum.

  • The SCSCs mandate includes:

    The standing committees are expert groups drawn from ESMA staff and Member States national competent authorities for securities markets regulation, and are responsible for the development of policy in their respective areas.

  • The appointment is effective immediately and will run until 1 February 2023.

ESAs issue a comment letter to the IFRS Foundation’s consultation

Retrieved on: 
Thursday, December 17, 2020
Accounting, European Insurance and Occupational Pensions Authority, European Union, Insurance regulation, European System of Financial Supervision, Government agencies, Financial services, International Financial Reporting Standards, Materiality, IFRS Foundation

The Chairs of the three European Supervisory Authorities, EBA, EIOPA and ESMA, have issued a comment letter to the IFRS Foundations consultation.

Key Points: 
  • The Chairs of the three European Supervisory Authorities, EBA, EIOPA and ESMA, have issued a comment letter to the IFRS Foundations consultation.
  • The joint the letter emphasises the following aspects: (i) the global challenges posed by sustainability for investors and other stakeholders and their call for a common set of standards; (ii) it is important to build on existing initiatives and to take key notions such as double materiality into account; (iii) it is necessary to address environmental, social and governance aspects beyond climate.
  • This letter follows on the June 2020 joint response to the European Commission in relation to the review of the Non-financial Reporting Directive (NFRD) in which the three Chairs acknowledged the need for a standardisation solution in Europe, while calling for the development of international standards in the medium term.
  • This letter follows on the June 2020 joint response to the European Commission in relation to the review of the NFRD in which the three Chairs acknowledged the need for a standardisation solution in Europe, while calling for the development of international standards in the medium term.

ESAs highlight the change in the status of Simple, Transparent and Standardised (STS) securitisation transactions at the end of the UK transition period

Retrieved on: 
Tuesday, December 8, 2020
Medical specialties, Branches of biology, Clinical medicine, SSPE, European System of Financial Supervision, European Insurance and Occupational Pensions Authority, Subacute sclerosing panencephalitis

The Joint Committee of the European Supervisory Authorities (ESAs) ESMA, EBA and EIOPA wish to highlight the impact in the change of status of Simple, Transparent and Standardised (STS) securitisation transactions after the end of the Transition Period on 31 December 2020.

Key Points: 
  • The Joint Committee of the European Supervisory Authorities (ESAs) ESMA, EBA and EIOPA wish to highlight the impact in the change of status of Simple, Transparent and Standardised (STS) securitisation transactions after the end of the Transition Period on 31 December 2020.
  • For a securitisation transaction to qualify as an STS securitisation, the Securitisation requires that the originator, sponsor and the securitisation special purpose vehicle (SSPE) be established in the Union .
  • Accordingly, those securitisation transactions currently labelled as STS securitisations will lose the STS status where one or all the securitisation parties (originator, sponsor and/or the SSPE) are established in the UK after the end of the transition period.
  • ESMA is working with national competent authorities to ensure that ESMAs STS securitisation public register is up to date on 1 January 2021.

ESAs HIGHLIGHT THE CHANGE IN THE STATUS OF SIMPLE, TRANSPARENT AND STANDARDISED (STS) SECURITISATION TRANSACTIONS AT THE END OF THE UK TRANSITION PERIOD

Retrieved on: 
Tuesday, December 8, 2020
Medical specialties, Branches of biology, Clinical medicine, SSPE, European System of Financial Supervision, European Insurance and Occupational Pensions Authority, Subacute sclerosing panencephalitis

07 December 2020

Key Points: 
  • 07 December 2020

    Joint Committee

    Securitisation

    The Joint Committee of the European Supervisory Authorities (ESAs) ESMA, EBA and EIOPA wish to highlight the impact in the change of status of Simple, Transparent and Standardised (STS) securitisation transactions after the end of the Transition Period on 31 December 2020.

  • For a securitisation transaction to qualify as an STS securitisation, the Securitisation Regulation[1] requires that the originator, sponsor and the securitisation special purpose vehicle (SSPE) be established in the Union[2].
  • Accordingly, those securitisation transactions currently labelled as STS securitisations will lose the STS status where one or all the securitisation parties (originator, sponsor and/or the SSPE) are established in the UK after the end of the transition period.
  • ESMA is working with national competent authorities to ensure that ESMAs STS securitisation public register is up to date on 1 January 2021.