Consults on interest rate risk arising from non-trading book activities
2 December 2021
The European Banking Authority ("EBA") launched three consultations specifying technical aspects of the revised framework capturing interest rate risks for banking book ("IRRBB") positions. The first on draft Guidelines on IRRBB and credit spread risk arising from non-trading book activities ("CSRBB"); the second on draft Regulatory Technical Standards ("RTS") on the IRRBB standardised approach; and the third on draft RTS on the IRRBB supervisory outlier test. The consultations run until 4 April 2022. For more information please press here.
Equities attempt rebound despite Omicron and Fed tightening bets
3 December 2021
"European shares opened firmer on Friday, shrugging off weakness in Asia as markets appeared to be slowly accepting the possibility of more COVID-linked activity curbs and an accelerated pace of stimulus tapering by the U.S. Federal Reserve. Wall Street futures were flatlining by 0922 GMT , after early big falls triggered by news that Chinese ride-hailing giant Didi will move its stock market listing from New York to Hong Kong." For more information please press here.
Bloomberg Oil Rallies After OPEC+ Takes Flexible Stance on Supply
3 December 2021 "Oil jumped after the OPEC+ alliance left the door open to reversing its decision to boost output at any moment, with the impact of the omicron variant on demand remaining highly uncertain. West Texas Intermediate climbed above $68 a barrel after closing higher on Thursday following the producer group’s decision. OPEC+ agreed to add 400,000 barrels a day of crude to global markets in January, but it essentially put a floor under prices by giving itself the option to change the plan on short notice." For more information please press here.
Apple Warning Points to Consumer Caution in Omicron-Hit World
3 December 2021
"Apple Inc. just offered a new reason to be worried about the state of the consumer. The company is telling suppliers of waning demand for its iPhone 13. The warning suggests shoppers have either satiated their appetite for new stuff or are uneasy about extravagant purchases in a world of soaring prices and a pandemic that refuses to go away. Throw in the new omicron mutation, and it’s a heady mix for shoppers. Whatever the reason, consumer caution leaves economies facing the new virus threat with less support from goods spending -- a reversal from earlier in the pandemic." For more information please press here.
Financial Times Britain's ETC Group to list crypto products on Deutsche Boerse
2 December 2021 "Fidelity Investments will this week become the largest asset manager to launch a cryptocurrency exchange traded fund. The Fidelity Advantage Bitcoin ETF ("FBTC") is designed to invest in “physical” spot bitcoin, a model the US Securities and Exchange Commission has so far rejected, rather than bitcoin futures contracts, which the US financial regulator has permitted. The entry of the world’s fourth-largest fund manager, with assets of $4.2tn, into the crypto market will, though, be seen as a further sign of the growing acceptance of digital currencies in the traditional investment world." 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.