K. Treppides & Co Limited - ICAS Newsletter - Issue 58

ICAS
February Newsletter - Issue 58/2020

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CySEC
Risk Based Supervision Framework – Electronic submission of information for the year 2019 (Form RBSF-CIF)

27 February 2020

The present Circular is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law of 2009, as amended (‘the CySEC Law’). The Cyprus Securities and Exchange Commission ("the CySEC") wishes to inform CIFs about the electronic submission of information for the year 2019 (Form RBSF-CIF).

Circular: C353

Announcements

EBA
Updates list of institutions involved in the 2020 supervisory benchmarking exercise

27 February 2020

The European Banking Authority ("EBA") published an updated list of institutions, which have a reporting obligation for the purpose of the 2020 EU supervisory benchmarking exercise. The EBA runs this exercise leveraging on established data collection procedures and formats of regular supervisory reporting and assists Competent Authorities in assessing the quality of internal approaches used to calculate risk weighted exposure amounts. For more information please press here.

Bloomberg Professional
BOE raises pressure on banks to ditch LIBOR with bigger haircuts

27 February 2020

The Bank of England is heaping pressure on banks to abandon the scandal-tainted LIBOR benchmark. Firms will be able to borrow less money from the central bank starting in October if they use securities linked to LIBOR — which underpins $30 trillion of financial contracts in sterling markets — as collateral. The measure, announced Wednesday, will effectively penalize firms still clinging to the benchmark before it expires at the end of 2021. For more information please press here.

Other Alerts

Reuters
Trump eyes talks with Japan to ensure access to titanium sponge

28 February 2020

President Donald Trump has decided not to take action on imports of titanium sponge, a key input in military aircraft, after a Commerce Department investigation found imports hurt U.S. makers of the material and threaten national security, a memo showed. For more information please press here.

Market News

Financial Times
Gold surges on spread of coronavirus

28 February 2020

"The yellow metal rallies as it is bought as a hedge to a global downturn." For more information please press here.

Reuters
Stocks plunge on coronavirus fears even as U.S. ramps up fight against spread

27 February 2020

"U.S. stocks plummeted on Thursday as fears about the effect of the coronavirus outbreak on economic growth flared even as U.S. officials pledged that they were stepping up efforts to safeguard Americans from the virus’ spread. " For more information please press here.

Bloomberg
World stock rout deepens as treasuries jump again: Markets wrap

27 February 2020

"Fear over the spread of the coronavirus tightened its grip on global markets Friday, with stocks across Europe and Asia plunging a day after the worst rout on Wall Street since 2011. Equity futures pointed to yet more pain at the New York open, and investors diving into safe assets sent Treasury yields to new depths." For more information please press here.

Bloomberg Professional
Digital-savvy U.A.E. banks to gain share, others may consolidate

26 February 2020

"Large U.A.E banks are building digital functionality to compete in a maturing market with rapidly evolving customer needs. Innovation is key to gaining market share and building flexible, cost-effective activities, creating fintech-growth catalysts. High IT spending may spur a consolidation of smaller banks as larger peers revamp legacy systems, merge and emerge stronger." For more information please press here.

Cryptocurrencies

Bloomberg Professional
Bitcoin rebounds in struggle retake $9,000, end correction

27 February 2020

"Bitcoin erased an earlier loss on Thursday and looked headed to halt a three-day slide, as most digital tokens advanced. The most-traded digital token edged higher to $8,822 as of 9:33 a.m. in London though failed to trade above the $9,000 level, according to consolidated prices compiled by Bloomberg. The Bloomberg Galaxy Crypto Index tracking a basket of cryptocurrencies also rebounded from an earlier 5.7% slide. Major tokens including Ether, Litecoin and XRP all reversed losses." 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.

Contact us directly at info@treppidesrr.com to discuss your tailor made solution.

Nicosia

Treppides Tower
9 Kafkasou Street
Aglantzia
Nicosia, CY 1642
Cyprus
P.O.Box 27142

Tel: +357 22 678944
Fax: +357 22 681887
Web: www.treppides.com

London

Treppides Advisers Ltd
Milner Street,
London, SW3 2QA,
United Kingdom

Tel: +44 20 7569 6756
Fax: +44 20 7569 6757
Web: www.treppidesadvisers.co.uk Email: info@treppidesadvisers.co.uk

Limassol

Kristellina Tower
12 Arch. Makarios III Avenue
Mesa Geitonia, 4th Floor
Limassol, CY 4000
Cyprus

Tel: +357 25 822722
Fax: +357 25 822723
Web: www.treppides.com

Malta

Finanz Audit Ltd
Level 1, Somnium
Tower Road, Swatar
Birkirkara, BKR 4012
Malta

Tel: +356 2010 8080
Fax: +356 2546 6103
Web: www.finanz-audit.com
Email: info@finanz-audit.com

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