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ARTICLE · 14 SEPTEMBER 2018

EU Disagreement On EU Technical Standards For Reporting Of Securities Financing Transactions

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On July 24, 2018, the Commission informed ESMA by letter that it intended to endorse the draft RTS and ITS with amendments.

European UnionFinance and Banking
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On September 5, 2018, the European Securities and Markets Authority published an Opinion on the European Commission's proposed amendments to the final draft Implementing and Regulatory Technical Standards on reporting under the Securities Financing Transactions Regulation. Various parts of the SFTR came into effect on January 12, 2016. However, the new reporting obligation for SFTs is not yet in force. Securities financing transactions involve the use of securities to borrow cash or other higher investment-grade securities, or vice versa. Such transactions can include repurchase transactions, securities lending and sell/buy backs. The SFTR requires, amongst other things, all securities financing transactions to be reported to EU recognized trade repositories, including details on the composition of collateral, whether collateral is available for reuse or has been reused, the substitution of collateral and any haircuts applied. The reporting obligation will apply to

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