EU Delays Bank Reporting Rules On Securities Financing
Law360, London (March 19, 2020, 1:26 PM GMT) -- European regulators have said they will push back strict new reporting requirements for securities financing transactions to allow firms to focus on managing the fallout of the coronavirus outbreak.
The European Securities and Markets Authority, the bloc’s securities watchdog, said Wednesday it will postpone new reporting obligations that were due to come into force for banks and lenders on April 13.
Firms no longer need to prioritize the tough new Securities Financing Transactions Regulation, which aims to boost risk monitoring by requiring market participants to report details of securities financing transactions to trade repositories, ESMA said.
The delay will help financial...
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