The EU authorities have given providers of critical benchmarks another two years until December 31, 2021 to comply with the benchmarks regulation (BMR).
Financial Markets
ASIC engages business school to assess MiFID II impact on asset managers
The University of New South Wales Business School has been asked by the Australian Securities and Investments Commission (ASIC) to find out how Australian fund managers might be affected by the EU’s Markets in Financial Instruments Directive (MiFID II).
CSAR calculated rate is best alternative to Libor - Crisil
The adjusted risk free rate (RFR) based on the compounded setting in arrears rate (CSAR) is statistically the most robust fallback alternative to the London Interbank Offered Rate as it most closely reflects Libor market conditions.
CCPs geared for ‘no-deal’ Brexit, but other markets could suffer
A UK parliamentary committee has been told that CCPs are well prepared for a ‘no-deal’ Brexit scenario with regulators having put forward viable contingency plans. However, for much of the rest of the financial ecosystem, uncertainty persists. By Justin Pugsley.
PBoC sets up macro-prudential bureau to curb systemic risks
China’s central bank has established a new macro-prudential management bureau with a view to improving the detection and management of systemic risks in the financial system
SEC ponders alignment with EU on investment research funding
Under industry pressure, the SEC is considering allowing EU rules over research unbundling to be applied in the US
Iosco consults on improving sustainable finance in emerging markets
Iosco is consulting on a series of recommendation to improve sustainable finance and the operation of capital markets in developing countries
Esma consults on liquidity stress tests for investment funds
Esma consults over its guidance for stress testing investment funds around their liquidity as Fitch Ratings issues a research note warning of their systemic risks
European securitisations soar but loose ends on STS could stop progress
A leap in European securitisation activity late last year could come to a halt this year as some technical standards on the EU’s STS framework still need clarification
Realisation sinking in that Libor’s days are numbered
A visible shift towards alternative risk free rates to replace scandal tarnished Ibors is happening, but regulators remain concerned over whether the pace is fast enough
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