EUROPEAN UNION: ESMA publishes responses to the Securities Financing Transaction Regulations Discussion Paper

Wednesday May 4 2016

The European Securities and Markets Authority (ESMA) has published the responses received to the Discussion Paper on draft RTS and ITS under the Securities Financing Transaction Regulation (SFTR).

The SFTR, published in December 2015, is the European Union’s response to the global initiative to bring more transparency to shadow banking activities. The new rules on transparency require both financial and non-financial market participants to report details of their securities financing transactions including the composition of the collateral, whether the collateral is available for reuse or has been reused, the substitution of collateral at the end of the day and the haircuts applied.

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