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  • 1 February 2023

Newsletter Digest - Episode 2

Newsletter Digest - Episode 2 julia Wed, 02/01/2023 - 14:33 Wed, 02/01/2023 - 12:00 Have a listen to Episode 2 of the Newsletter Digest! This new podcast series aims to bring you closer to some of the work we do to shape a safer digital future, in just under 10 minutes. Our main topics of this month include: personal data breaches, consultations and complaints, and more. 0
  • 1 February 2023

ESMA reviews the scope of clearing and derivatives trading obligations

ESMA reviews the scope of clearing and derivatives trading obligations Dan.Nacu-Manol… 01 February 2023 Post Trading The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its final report on the clearing (CO) and derivative trading (DTO) obligations to accompany the benchmark transition. The report sets out proposed draft Regulatory Technical Standards (RTS) amending the scope of the CO and DTO for over-the-counter (OTC) interest rate derivatives (IRD) denominated in EUR, GBP, JPY, and USD. The report is part of the transition away from EONIA and LIBOR and onto alternative benchmarks, primarily Risk-Free Rates such as €STR, SOFR, SONIA and TONA. ESMA’s proposed amendments aim to ensure a smooth benchmark transition while maintaining an effective scope for these obligations, in line with the G20 objectives. The proposals include: for the CO – introduce the TONA OIS (with maturities up to 30 years) class and extend the SOFR OIS class (up to 50 years); and for the DTO – introduce certain €STR OIS classes. In preparing the report, ESMA worked closely with authorities from third country jurisdictions who are currently also revising their respective CO and DTO, to facilitate international convergence as far as possible. ESMA had already submitted to the European Commission a first set of draft RTS amending the scope of the CO and of the DTO in November 2021, which have since then entered into force. Next steps The draft RTS have been submitted to the European Commission for endorsement.
  • 1 February 2023

#Asylum2032: Four scenarios for asylum-related migration to Europe

News The European Union Agency for Asylum (EUAA) has published the results of a foresight project which looks at what international protection challenges could look like in 2032, based on several scenarios. While not predictions, the results aim to support policymakers with their strategic planning and come as lawmakers aim to agree on reforms to the Common European Asylum System by February 2024.