EBA
EBA & ESMA consult on framework for the supervisory review and evaluation process of investment firms
18 November 2021
The European Banking Authority ("EBA") and the European Securities and Markets Authority ("ESMA") launched a public consultation on their Guidelines on common procedures and methodologies for the supervisory review and evaluation process ("SREP"). The EBA is also consulting on draft Regulatory Technical Standards ("RTS") on the additional own funds requirements that could be determined by competent authorities for investment firms. Both regulatory products are based on the Investment Firms Directive ("IFD") and aim at consistent supervisory practices with regard to the review and evaluation of investment firms. The consultations run until 18 February 2022. For more information please press here.
Market News
Bloomberg
Euro Could Be Facing a Dark Winter With Options Traders Spooked
19 November 2021
"FX traders are forecasting a cold, stormy winter for the euro. Markets are increasingly nervous about the common currency with the pandemic resurgent, geopolitical tensions rising and gas supply issues mounting. Risk reversals in the euro-Swiss franc pair fell below parity on Nov. 1 for the first time in almost a year -- coinciding with a jump in one-month euro-dollar GARCH, a statistical modeling technique that helps predict the volatility of financial assets. Then, this week, that cross dropped to a six-year low." For more information please press here.
Reuters Oil steadies as investors weigh strategic reserve releases
19 November 2021 "Oil prices steadied around $81 a barrel on Friday as investors continued to weigh the impact of potential releases of crude reserves by major economies in a coordinated effort to cool energy prices and tame surging inflation. Brent crude was up 5 cents, or 0.06%, at $81.29 a barrel by 0932 GMT. It fell to a six-week low on Thursday after reports of the potential releases before rebounding to end 1.2% higher on the day." For more information please press here.
Reuters
Fed to hike in Q4 next year; inflation to remain above target until 2024: Reuters poll
19 November 2021
"The Federal Reserve will raise interest rates late next year, earlier than expected just a month ago, in a landmark shift from the emergency measures it took to backstop the U.S. economy during the COVID-19 pandemic, according to a Reuters poll. Most respondents said the Fed should move even sooner to combat inflation, which hit a 30-year high last month and economists say it will stick above the central bank's target until at least 2024." For more information please press here.
Cryptocurrencies
Bloomberg Binance U.S. Unit May Raise ‘Couple Hundred’ Million in Funding
19 November 2021
"Binance.US, the American affiliate of top global cryptocurrency exchange Binance, may raise a couple hundred million dollars in its funding round expected to close soon. Binance Chief Executive Officer Changpeng “CZ” Zhao said in an interview at Bloomberg’s New Economy Forum that the round is likely to close in the next one to two months." For more information please press here.
Regulatory Reporting Solutions
Treppides Regulatory Reporting offers extensive reporting solutions under EMIR, MIFID, CRD IV, FATCA, CRS, REMIT towards MiFID II / MiFIR and CRS in all EU/ESMA jurisdictions like Cyprus (CySEC) and UK (FCA) and soon will also comply with foreign jurisdictions such as ASIC DTR.
