On the 20th of May 2021, ESMA published an update to its Questions and Answers on the Securities Financing Transaction Regulation (SFTR) and to the Central Securities Depository Regulation (CSDR).
The updates to SFTR include, reporting of changes to the reference rate in an SFT, in particular where the new risk free rates are not explicitly included in the implementing regulation EU 2019/363. Changes to the SFTR update can be found here.
The updates to CSDR, are with regards to the scope of cash penalties under the Settlement Discipline Regime. To view the CSDR updates click here.
If you would like to be part of ISLA’s SFTR or CSDR working group or for more information, please click here or visit our Working Groups & Minutes section.