argomento: News del mese - Diritto Internazionale e Comunitario

Articoli Correlati: ESMA - RTS - EMIR

On May 19^th, 2022, the European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, issued a final report for what concerns highly liquid financial instruments for CCP investment policies in accordance with the European Market Infrastructure Regulation (EMIR). One of the most interesting aspects of the document regards the possibility for specific public entities to invest in financial instrument and, consequently, what are the instrument that could be eligible for the case; ESMA concluded in the report that there is work to be done to achieve the extension of the list of the possible investments. However, the report concludes that it would be premature to allow CCP investments in MMFs, as no category of MMFs currently meets all the conditions that define highly liquid financial instruments. The forthcoming review of the MMF Regulation is expected to assess possible changes to the regulatory framework that might make EU MMF adequate for CCP investments. ESMA is currently also considering new possibilities to modify parts of the Regulatory Technical Standards with other and different standard measures.