On 23 November 2020, the European Banking Authority (EBA) published a report on significant risk transfer (SRT) in securitisation transactions, which includes a set of detailed recommendations to the European Commission on the harmonisation of practices and processes applicable to the SRT assessment. The EBA proposals aim to enhance the efficiency,
On 22 November 2020, the European Commission issued a consultation on a draft delegated act under the Taxonomy Regulation.
The Taxonomy Regulation establishes the framework for the EU taxonomy by setting out four conditions that an economic activity must meet in order to qualify as environmentally sustainable:
On 20 November 2020, the FCA published a letter it had sent to the boards of directors of firms that have been assigned to the credit reference agencies (CRAs) and credit information service providers (CISPs) portfolio.
The purpose of the letter is to:
On 23 November 2020, the FCA published a speech by Richard Monks (Director of Strategy, FCA) entitled Building trust in sustainable investments. The speech was delivered at the SRI Services and Partners ‘Good Money Week’ panel discussion on 21 October 2020.
During his speech Mr Monks states that the FCA is considering whether it would
The onshored Securitisation Regulation transfers the responsibility for maintaining a list of STS securitisations from European Securities and Markets Authority (ESMA) to the FCA. From the end of the transition period, the FCA will maintain a list of securitisations duly notified to it as meeting UK STS criteria. To qualify as UK STS, the originators
On 23 November 2020, the Islamic Financial Services Board (IFSB) published its third set of FAQs on the following standards:
On 23 November 2020, the Financial Stability Board (FSB) published a report that discusses the potential implications of climate change for financial stability. It investigates channels through which climate-related risks might impact the financial system.
The report:
On 22 November 2020, the G20 leaders issued a declaration following their summit in Riyadh on 21 – 22 November 2020.
Paragraphs 16 to 18 of the declaration cover financial sector issues. Key points include:
On 23 November 2020, the European Central Bank’s working group on euro risk-free rates launched the following consultations on fallbacks to EURIBOR:
On 18 November 2020, the Agency for the Cooperation of Energy Regulators (ACER) published the fifth edition of its guidance on the application of Regulation (EU) No 1227/2011 on wholesale energy market integrity and transparency (REMIT). In this edition, ACER provides more detailed guidance concerning the definition of information and inside information under REMIT.
In