EBI Regulatory Report #115

Business graphs and charts on table. Financial development, Banking Account, Statistics

EBI Report
Economic Policy and Financial Regulation Measures:
International, EU and Euro Area Levels
(3 December 2022)

Professor Dr. Christos V. Gortsos and Georgios Zervakis, LLM candidate
(Law School, National and Kapodistrian University of Athens)

All previous entries have been put in two archives, which can be retrieved here.

Main developments during the week 28 November – 2 December 2022: 

2 December 

  • Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates) 
  • Decision (EU) 2022/2359 of the ECB of 22 November 2022 adopting internal rules concerning restrictions of rights of data subjects in connection with the ECB’s internal functioning (OJ L 311, 2.12.2022, pp. 176–198) 
  • Eurosystem reschedules launch of new collateral management system 
  • Council and European Parliament agree to improve protection for consumers applying for credit 
  • The SRB has launched a new procedure for the provision of advice and assistance on economic and financial valuation services (SRB/OP/2/2022) 
  • IOSCO: Monitoring Group Reports on Progress to Implement Recommendations to Strengthen the International Audit and Ethics Standard-Setting System 

30 November 

  • IOSCO: Investor Behaviour and Investor Education in Times of Turmoil: Recommended Framework for Regulators based on Lessons Learned from the COVID-19 Pandemic 
  • ESMA updates guidelines on stress tests for money market funds 
  • European Systemic Risk Board (ESRB): Adverse scenario for the European Securities and Markets Authority’s money market fund stress testing guidelines in 2022 
  • ESMA welcomes NCAs’ work to maintain resilience of liability driven investment funds 

29 November  

  • Commission Delegated Regulation (EU) 2022/2328 of 16 August 2022 supplementing [the Capital Requirements Regulation] with regard to regulatory technical standards specifying exotic underlyings and the instruments bearing residual risks for the purposes of the calculation of own funds requirements for residual risks (OJ L 308, 29.11.2022, pp. 1–4) 
  • Committee on Payments and Market Infrastructures: CPMI and IOSCO report on financial market infrastructures’ cyber resilience finds reasonably high adoption of cyber guidance but highlights one serious issue of concern and four issues of concern 

28 November 

  • ECB: Monetary developments in the euro area: October 2022 
  • Digital finance: Council adopts Digital Operational Resilience Act (DORA) 
  • ESMA amends and consults on standards for benchmark administrator applications