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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
04/08/2022 ESMA70-156-4448 Q&As- Central Securities Depositories Regulation , Q&A PDF
561.38 KB
04/08/2022 Net short thresholds Net short position notification thresholds for sovereign issuers Reference XLSX
28.52 KB

According to Article 7(2) of the Short Selling Regulation, ESMA has to publish a list of the thresholds applicable to the sovereign issuers for the purpose of the notification to competent authorities of significant net short position in sovereign debt.

The way these notification thresholds are defined is further specified in the Commission Delegated Regulation No 918/2012 (the “DR”). The DR specifies that initial threshold categories shall be:
1.0.1% applicable where the total amount of outstanding issued sovereign debt is between 0 and 500 billion euros;
2.0.5% applicable where the total amount of outstanding issued sovereign debt is above 500 billion euros or where there is a liquid futures market for the particular sovereign debt.

The additional incremental levels shall be set at 50% of the initial thresholds. The reporting thresholds shall be monetary amounts fixed by applying the percentage thresholds to the outstanding sovereign debt of the sovereign issuer. They will be revised and updated quarterly to reflect changes in the total amount of outstanding sovereign debt of each sovereign issuer.

In addition, the DR states that the amount of outstanding debt should be calculated using a duration adjusted approach. ESMA has published a Q&A document on how to proceed for the duration adjustment.

The table of thresholds contains the name of the sovereign issuer, the amount of outstanding debt duration adjusted, the initial threshold amount and the relevant percentage, the incremental threshold amount and the relevant percentage.

Please note that the figures of the amount of outstanding debt are duration adjusted (not nominal amounts) and are approximations provided by competent authorities.

02/08/2022 ESMA70-155-11635 CSD Register Reference PDF
1.15 MB
29/07/2022 ESMA70-449-672 Call for Evidence on pre-hedging , Reference PDF
245.25 KB
29/07/2022 ESMA70-449-674 Response form call for evidence pre-hedging , Reference DOCX
752.93 KB
25/07/2022 ESMA70-708036281-113 Third-country markets considered as equivalent to a regulated market under EMIR Reference PDF
68.9 KB
21/07/2022 ESMA71-99-1986 Press Release- ESMA finds NCAs' scrutiny and approval of prospectuses satisfactory , Press Release PDF
110.6 KB
21/07/2022 ESMA42-111-7170 Final Report- Prospectus Peer Review Final Report PDF
2.01 MB
20/07/2022 SSR sanctions Administrative measures and sanctions applicable in Member States to infringements of the Short Selling Regulation (SSR) Reference PDF
372.65 KB
19/07/2022 ESMA74-362-893 QAs on SFTR data reporting , , Q&A PDF
405.28 KB
15/07/2022 ESMA40-134-3263 Decision on Conflict of Interest Policy for Non-Staff Decision PDF
169.2 KB
12/07/2022 ESMA74-362-2566 Third updated LEI statement SFTR , , Statement PDF
130.43 KB
11/07/2022 ESMA70-450-1185 Reply_Form_CP_Consultation Paper_Amendment of Article 19 of CSDR RTS on Settlement Discipline Reference DOCX
749.66 KB
11/07/2022 ESMA70-450-1173 Consultation Paper- Amendment of Article 19 of CSDR RTS on Settlement Discipline Consultation Paper PDF
312.96 KB
11/07/2022 ESMA70-446-675 Reply_Form_CP on CO and DTO referencing ESTR Reference DOCX
750.84 KB
11/07/2022 ESMA70-446-369 Consultation Paper on CO and DTO referencing ESTR Consultation Paper PDF
1.12 MB
08/07/2022 Market makers - XLS Market makers and authorised primary dealers who are using the exemption under the SSR- XLS Reference XLSX
41.05 KB
08/07/2022 Market makers - pdf Market makers and authorised primary dealers who are using the exemption under the SSR- PDF Reference PDF
443.4 KB
08/07/2022 ESMA32-384-5422 Public Statement_ Prospectus supervision in the context of EU sanctions connected to RU’s invasion of UA Statement PDF
241.41 KB
04/07/2022 ESMA71-99-1971 ESMA stress test of Central Counterparties finds clearing system resilient- Press Release , , Press Release PDF
133.38 KB

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