Securities Financing Transactions Regulation (SFTR)

Published 02.11.2020

State of play: on 23 December 2015, the Regulation was published in the Official Journal (L 337/1).

Level 1

Commission

  • 29 January 2014, the proposal was published.

Parliament

  • 24 March 2015, the ECON Committee adopted its report and the negotiations mandate.
  • 16 July 2015, the ECON Committee approved the agreed text from trilogue negotiations.
  • 29 October 2015, the Parliament adopted the agreed text in plenary.

Council

  • 16 November 2015, the Council formally adopted the agreed text.

Level 2

  • 20 April 2017, ESMA published a final report on its technical advice to the Commission on fees to trade repositories (TRs) under SFTR and on certain amendments to fees to TRs under EMIR.
  • 12 November 2018, ESMA published a final report on its technical advice to the Commission on fees for securitisation repositories under the Securitisation Regulation.
  • 13 November 2018, ESMA published a set of items which provide standards and guidance for securitisation repositories under the Securitisation Regulation.
  • 13 December 2018, the Commission adopted a package of new measures under SFTR.
  • 31 July 2019, ESMA published the responses to the consultation on draft guidelines for the reporting under SFTR.
  • 31 October 2019, ESMA published further technical details for the reporting of Securities Financing Transactions (SFTs) as required under the SFT Regulation (SFTR). The publication includes validation rules applicable to SFTR reports as well as the XML schemas reporting entities should use.
  • 20 December 2019, ESMA published updated ISO 20022 XML Schemas to be used for reporting under the SFTR.
  • 20 December 2019, ESMA updated the reporting instructions and XML schema for the templates set out in the technical standards on disclosure requirements.

Level 3

  • 19 October 2017, the Commission published a report to the Council outlining the impact on the SFTR.
  • 5 September 2018, ESMA published an opinion in response to the Commission’s proposed amendments of technical standards on reporting under SFTR.
  • 20 June 2019, ESMA held an open hearing on its consultation paper on guidelines for reporting under articles 4 and 12 of the SFTR.
  • 6 January 2020, ESMA published a series of documents on Securities Financing Transactions Regulation: a reportguidelines on reporting under the SFTR, amended SFTR validation rules and a statement on Legal Entity Identifiers (LEI).
  • 17 January 2020, ESMA launched a consultation on guidelines on securitisation repository data completeness and consistency thresholds.
  • 19 March 2020, ESMA published a statement to ensure coordinated supervisory actions on the application of Securities Finance Transactions Regulation (SFTR), in particular, on the requirements regarding the reporting start date, as well as the registration of Trade Repositories (TRs). (Covid-19).
  • 6 May 2020, ESMA approved the extension of registrations of four trade repositories (TRs) to include securities financing transactions (SFT) reporting under SFTR.
  • 9 July 2020, ESMA launched a consultation on draft guidelines on the calculation of positions by Trade Repositories (TRs) under the SFTR.
  • 10 July 2020, ESMA published its final report on draft guidelines on securitisation repository data completeness and consistency thresholds.
  • The European Commission has tabled a quick fix proposal as part of the capital markets recovery package on 24 July 2020.

Next steps

Discussions in the European Parliament are ongoing. Council has a position since end October 2020.

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Contact

Association des Banques et Banquiers, Luxembourg

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