On 30 April 2026, the European Securities and Markets Authority (ESMA) announced the launch of its sixth stress test exercise for central counterparties (CCPs). The CCP stress test framework drafted by ESMA for the purpose of this exercise is supported by an adverse market scenario provided by the European Systemic Risk
On 16 April 2026, the Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) announced that it had completed its assessment of the United Kingdom’s implementation of the framework for systemically important payment systems and central securities depositories (CSDs)
On 13 April 2026, the European Securities and Markets Authority (ESMA) published the reporting templates and instructions for reporting under the Active Account Requirement (AAR) pursuant to the European Market Infrastructure Regulation (EMIR 3).
Background
Following the entry into force of EMIR 3 on 24 December 2024, the AAR
In September 2025, the Bank of England (BoE) published a Discussion Paper on enhancing the resilience of the gilt repo market. The Discussion Paper was intended to start a conversation with industry on the effectiveness and impact of a range of potential reforms to enhance the resilience of the gilt repo market, including