The European Securities and Markets Authority (ESMA) has issued today a statement which sets out the implications for credit rating agencies (CRAs) based in the United Kingdom (UK), including the endorsement of UK credit ratings, should the UK withdraw from the European Union (EU) without a withdrawal agreement (no-deal Brexit).
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For this third CCP stress test, ESMA has further developed its framework, adding a new component to the exercise on concentration risk, in addition to assessments on credit and liquidity risks. This new component will be used to assess the impact of liquidation costs for concentrated positions. Steven Maijoor, ESMA Chair, said: “CCPs are systemically […]
These RTSs set out a number of requirements concerning the following topics:• The key financial information that should appear in the summary of the prospectus;• Data and machine readability of information to be sent to ESMA in relation to the storage and mechanism providing the public with free of charge access and search functions;• Advertisements relating to public […]