ESMA LIBRARY
The ESMA Library contains all ESMA documents. Please use the search and filter options to find specific documents.
35
REFINE YOUR SEARCH
Sections
- (-) Remove Risk Analysis & Economics - Markets Infrastructure Investors filter Risk Analysis & Economics - Markets Infrastructure Investors
- (-) Remove Securities Financing Transactions filter Securities Financing Transactions
- (-) Remove International cooperation filter International cooperation
- CESR Archive (341) Apply CESR Archive filter
- Press Releases (296) Apply Press Releases filter
- Corporate Disclosure (193) Apply Corporate Disclosure filter
- IAS Regulation (74) Apply IAS Regulation filter
- Post Trading (64) Apply Post Trading filter
- Fund Management (60) Apply Fund Management filter
- Credit Rating Agencies (57) Apply Credit Rating Agencies filter
- MiFID - Secondary Markets (51) Apply MiFID - Secondary Markets filter
- MiFID - Investor Protection (41) Apply MiFID - Investor Protection filter
- IFRS Supervisory Convergence (40) Apply IFRS Supervisory Convergence filter
- Joint Committee (38) Apply Joint Committee filter
- Supervisory convergence (33) Apply Supervisory convergence filter
- Corporate Information (27) Apply Corporate Information filter
- Securities and Markets Stakeholder Group (20) Apply Securities and Markets Stakeholder Group filter
- Board of Supervisors (18) Apply Board of Supervisors filter
- Audit (17) Apply Audit filter
- Brexit (16) Apply Brexit filter
- Management Board (16) Apply Management Board filter
- Benchmarks (14) Apply Benchmarks filter
- Prospectus (13) Apply Prospectus filter
- Innovation and Products (12) Apply Innovation and Products filter
- Market Abuse (11) Apply Market Abuse filter
- Market Integrity (10) Apply Market Integrity filter
- Trade Repositories (10) Apply Trade Repositories filter
- Short Selling (9) Apply Short Selling filter
- Sustainable finance (9) Apply Sustainable finance filter
- Transparency (8) Apply Transparency filter
- Corporate Finance (7) Apply Corporate Finance filter
- Corporate Governance (7) Apply Corporate Governance filter
- Securitisation (7) Apply Securitisation filter
- COVID-19 (6) Apply COVID-19 filter
- Warnings and publications for investors (6) Apply Warnings and publications for investors filter
- CCP Directorate (5) Apply CCP Directorate filter
- Planning reporting budget (5) Apply Planning reporting budget filter
- European Single Electronic Format (4) Apply European Single Electronic Format filter
- Guidelines and Technical standards (4) Apply Guidelines and Technical standards filter
- Board of Appeal (3) Apply Board of Appeal filter
- Trading (2) Apply Trading filter
- MiFID II: Transparency Calculations and DVC (1) Apply MiFID II: Transparency Calculations and DVC filter
Type of document
- (-) Remove Press Release filter Press Release
- (-) Remove Letter filter Letter
- (-) Remove Q&A filter Q&A
- Reference (82) Apply Reference filter
- Final Report (34) Apply Final Report filter
- Report (34) Apply Report filter
- Speech (7) Apply Speech filter
- Statement (7) Apply Statement filter
- Consultation Paper (5) Apply Consultation Paper filter
- Annual Report (3) Apply Annual Report filter
- Guidelines & Recommendations (1) Apply Guidelines & Recommendations filter
Your filters
Q&A X Letter X Press Release X Risk Analysis & Economics - Markets Infrastructure Investors X Securities Financing Transactions X International cooperation X
Reset all filters| Date | Ref. | Title | Section | Type | Download | Info | Summary | Related Documents | Translated versions |
|---|---|---|---|---|---|---|---|---|---|
| 11/01/2013 | 2013/13 | ESMA and the EBA take action to strengthen Euribor and benchmark rate-setting processes | Risk Analysis & Economics - Markets Infrastructure Investors, Press Releases | Press Release | PDF 207.75 KB |
||||
| 20/09/2013 | 2013/1324 | ESMA TRV: market conditions improve, as systemic risks persist | Risk Analysis & Economics - Markets Infrastructure Investors | Press Release | PDF 149.46 KB |
The European Securities and Markets Authority (ESMA) published today its Trends, Risks, Vulnerabilities (TRV) Report and a Risk Dashboard for the second quarter of 2013. The TRV examines the performance of securities markets in the first half of 2013, assessing both trends and risks in order to develop a comprehensive picture of systemic and macro-prudential risks in the EU, to assist both national and EU bodies in their risk assessments. ESMA’s TRV contributes to promoting financial stability and enhancing consumer protection by regularly looking into cross-border and cross-sector trends, risks and vulnerabilities, both at the wholesale and retail level. The TRV finds that EU securities markets and investment conditions in the EU have improved for a second quarter in a row since the 4th quarter of 2012, although systemic risk persisted at medium to high levels. Amongst other risk factors, uncertainty remained high due to concerns over funding sources, low interest rates and recent market fluctuations, resulting in increased market risk, while liquidity, credit and contagion risk continue to be significant. Steven Maijoor, ESMA Chair, said: “While the easing of stress in financial markets is a positive sign, systemic risks in the EU remain high and uncertainty in the international market environment has risen. Valuations in securities markets, volatility in fund flows, and continuity issues around financial benchmarks remain a matter of concern. Faced with these issues regulators and market participants should remain vigilant. “ESMA’s work on identifying those risks facing Europe’s securities markets is an important component in the European System of Financial Supervision’s efforts to foster recovery in its markets and promote financial stability.” The TRV identifies the following key trends for the first half of 2013 in EU securities markets: • Securities markets: market conditions improved moderately while issuance was subdued with equity prices declining and inter-bank lending increasing. The second quarter saw an increase in sovereign borrowing costs, and corporate bonds; covered bonds and securitised products were subdued; • Collective investments: asset managers benefited from improved market conditions, mainly driven by bond, equity or alternative funds whereas money market fund assets decreased. Overall, leverage remained moderate but capital inflows were volatile reflecting a decline in investor sentiment; and • Market infrastructures: trading on EU venues increased in early 2013. Central clearing of interest rate swaps continued to grow. Potential continuity issues around financial benchmarks give rise to concerns. Key risks identified in the Report, and published separately in the Risk Dashboard, include: • Liquidity risk: even though policy action helped to reduce liquidity risks in main market segments, others rose, leaving the overall liquidity risk at high levels; • Credit risk: securities markets in the EU saw a reduction in issuance volumes, mainly in asset classes with higher risk and longer maturities. Despite recent debt refinancing, overall credit risk remains high; • Market risk: equity and bond markets risks increased driven by rising concerns over the valuation of assets; and • Contagion risk: the risk of contagion between market segments remained unchanged, while the level of credit default swap exposures declined. In addition, the TRV presents in-depth analyses on four specific topics: • First evidence on the impact of the Short-Selling Regulation on securities markets; • Contagion risks and the network structure of EU CDS exposures; • Overview of the EU UCITS industry; and • Overview of bail-in and contingent capital securities. Next steps As part of its on-going market surveillance, ESMA publishes its TRV semi-annually, complemented by its quarterly risk dashboard. | |||
| 14/02/2013 | 2013/215 | ESMA issues first risk report on EU securities markets | Risk Analysis & Economics - Markets Infrastructure Investors, Press Releases | Press Release | PDF 99.25 KB |
||||
| 06/06/2013 | 2013/684 | ESMA and the EBA publish final principles on benchmarks | Risk Analysis & Economics - Markets Infrastructure Investors, Press Releases, Benchmarks | Press Release | PDF 125.48 KB |
||||
| 18/07/2013 | 2013/992 | ESMA finalises supervisory co-operation agreements for alternative investment | Fund Management, Press Releases, International cooperation | Press Release | PDF 167.72 KB |
||||
| 14/09/2015 | 2015/1379 | ESMA raises its market risk indicator to highest level | Risk Analysis & Economics - Markets Infrastructure Investors, Press Releases | Press Release | PDF 120.03 KB |
||||
| 11/03/2015 | 2015/562 | Press release- ESMA sees continued tense securities market conditions | Risk Analysis & Economics - Markets Infrastructure Investors, Press Releases | Press Release | PDF 141.95 KB |
||||
| 30/08/2016 | 2016/1283 | ESMA sees risk outlook deteriorate for EU securities markets | Press Releases, Risk Analysis & Economics - Markets Infrastructure Investors | Press Release | PDF 146.14 KB |
||||
| 30/09/2016 | 2016/1411 | ESMA consults on future reporting rules for securities financing transactions | Post Trading, Press Releases, Securities Financing Transactions | Press Release | PDF 148.11 KB |
The European Securities and Markets Authority (ESMA) has issued today a consultation paper on draft technical standards implementing the Securities Financing Transaction Regulation (SFTR), which aims to increase the transparency of shadow banking activities. Securities financing transactions (SFTs) are transactions where securities are used to borrow cash (or other higher investment-grade securities), or vice versa – this includes repurchase transactions, securities lending and sell/buy-back transactions. |
|||
| 04/10/2016 | 2016/1432 | Press release- ESMA reports on shadow banking, leverage and pro-cyclicality | Post Trading, Press Releases, Risk Analysis & Economics - Markets Infrastructure Investors | Press Release | PDF 151.69 KB |
||||
| 17/03/2016 | 2016/366 | ESMA maintains market risk indicator at highest level | Press Releases, Risk Analysis & Economics - Markets Infrastructure Investors | Press Release | PDF 117.11 KB |
||||
| 02/06/2016 | 2016/743 | ESMA assesses usefulness of distributed ledger technologies | Innovation and Products, Press Releases, Risk Analysis & Economics - Markets Infrastructure Investors | Press Release | PDF 152.48 KB |
||||
| 11/01/2013 | EBA/BS/2013/001 | Letter to EBF on Euribor | Risk Analysis & Economics - Markets Infrastructure Investors | Letter | PDF 101.15 KB |
||||
| 14/03/2013 | ESA/2013/007 | Possible Framework for the Regulation of the Production and Use of Indices Serving as Benchmarks in Financial and other Contracts | Risk Analysis & Economics - Markets Infrastructure Investors, Joint Committee | Letter | PDF 91.91 KB |
||||
| 13/04/2018 | ESMA40-133-624 | ESMA's response to WP29 Consultation on Guidelines on Derogations | International cooperation, Supervisory convergence | Letter | PDF 428.49 KB |
||||
| 05/09/2018 | ESMA70-151-1651 Annex 1 | Letter from European Commission on SFTR draft RTS | Securities Financing Transactions | Letter | PDF 159.5 KB |
||||
| 05/09/2018 | ESMA70-151-1719 | Letter to VP Dombrovskis on opinion on SFTR | Securities Financing Transactions | Letter | PDF 213.13 KB |
||||
| 06/09/2018 | ESMA71-99-1027 | Press release- Volatility spikes underline fragilities and risks to EU securities markets and investors | Press Releases, Risk Analysis & Economics - Markets Infrastructure Investors | Press Release | PDF 237.66 KB |
||||
| 18/10/2018 | ESMA71-99-1027 | ESMA data analysis values EU derivatives market at €660 trillion with central clearing increasing significantly | Press Releases, Risk Analysis & Economics - Markets Infrastructure Investors | Press Release | PDF 238.11 KB |
||||
| 07/03/2019 | ESMA71-99-1111 | ESMA report values EU Alternative Investment Funds at €4.9 trillion | Press Releases, Risk Analysis & Economics - Markets Infrastructure Investors | Press Release | PDF 257.55 KB |