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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
20/03/2014 Ares(2014)513399 EC response on classification of financial instruments Letter PDF
194.08 KB

European Commission response to ESMA's letter to Michel Barnier, Commissioner for Internal Market and Services regarding the classificiation of financial instruments as derivatives sent on 14 February. ESMA Letter 2014/184

08/05/2014 2014/483 Letter to the European Commission- Frontloading requirement under EMIR Letter PDF
121.56 KB

This letter to the European Commission advances ESMA's intention to ease certain frontloading requirement under the European Markets Infrastructure Regulation (EMIR).  Frontloading is a term that refers to the clearing obligation under EMIR, which will oblige counterparties to centrally clear certain derivative trades through clearing houses (CCP). ESMA believes that the frontloading procedure creates uncertainties for derivatives end-users while the exact terms of the clearing obligation has not been defined which could have adverse impacts on risk hedging and financial stability. Therefore, ESMA informs the European Commission that it intends to establish the frontloading requirement in a manner that will minimise uncertainty. The clearing requirement began to apply with the first authorisation of an EU-based CCP which happened on 18 March 2014. Following the first CCP approval, EMIR requires ESMA to draft within six months technical standards which will define the derivatives classes subject to central clearing.  However, compulsory central clearing will only start with the entry-into-force of the technical standards which creates the need to ‘frontload’ those derivate trades since 18 March 2014.

17/07/2014 JC/2b D(2014) 2392454 European Commission response to ESMA letter regarding frontloading requirement under EMIR Letter PDF
71.29 KB
31/07/2014 Markt/G3/GW/bh ARES(2014) EC letter to ESMA on classification of financial instruments Letter PDF
60.84 KB

The European Commission has written to ESMA regarding the definition of a financial instrument relating to foreign currency (FX contract).

21/08/2014 ODRG/1/2014 ODRG letter to FSB on barriers to reporting to trade repositories Letter PDF
1.27 MB
30/09/2014 2014/1179 Letter to Commission Barnier- Postponement of reports due by ESMA under Article 85.3 of EMIR Letter PDF
30.37 KB
06/10/2014 20141002 CSDR mandates Letter PDF
43.4 KB
21/11/2014 2014/1385 ESMA letter to European Commission regarding EMIR clearing obligation Letter PDF
34.57 KB
19/12/2014 EC 18/12/2014 Letter from European Commission- Amended draft RTS on clearing obligation for IRS Letter PDF
555.82 KB

EC 18/12/2014 annex

13/02/2015 EC-15-639 European Commission letter regarding EMIR clearing obligation on Interest Rate Swaps Letter PDF
183.74 KB
23/02/2015 2015/419 IFRS IC Agenda Item Request: Measurement of minimum funding requirement in pension asset ceiling test Letter PDF
27.23 KB
23/02/2015 2015/168 Letter to EU Institutions re ESMA’s 2015 Work Programme , , Letter PDF
37.31 KB
Dear Mr Gualtieri, Ms Ribkina and Commissioner Hill, On 30 September 2014 we sent you ESMA’s Work Programme for 2015, which was based on the budget request that had been approved by ESMA’s Board of Supervisors: a budget of €38,639,000 and 147 Establishment Plan posts. The EU budget had not been voted at the time. Following the adoption of the EU budget, ESMA’s 2015 expenditure budget is €33,601,402 (plus an additional €3,100,000 from assigned revenues for tasks delegated from National Competent Authorities) with an Establishment Plan of 137 posts. ESMA’s Board of Supervisors has approved a revised work programme to account for the difference of €5m and 10 Establishment Plan posts; representing a 15% reduction compared to the planned ESMA budget and 7% of its Establishment Plan. ESMA will therefore lack sufficient resources to execute all the tasks that were initially planned for 2015. The Work Programme explains the areas where reprioritisation had to take place, including the risk that ESMA will not fully meet its legal obligations, for instance due to the delay of delivery compared to legally set timetables. A summary of the deprioritised tasks is annexed to the Work Programme and reproduced in the table below. 2014/1200rev ESMA Work Programme
05/06/2015 2015/911 ESMA Submission to IFRS IC on Application of IAS 12 Letter PDF
29.66 KB
18/06/2015 2015/943 ESMA letter to European Commission regarding CSRD Level 2 Measures Letter PDF
43.43 KB
18/08/2015 2015/1258 ESMA submission to IFRS IC on IAS 20 Letter PDF
79.26 KB
05/10/2015 2015/1498 Letter to European Commission re RTS on indirect clearing under EMIR and under MiFIR , Letter PDF
92.96 KB
13/11/2015 2015/1674 Cover letter to COM- EMIR Technical Standards Letter PDF
28.51 KB
01/02/2016 2016/175 Letter to COM Letter PDF
80.4 KB
09/02/2016 2016/235 Comment letter on Taxonomy due process , , Letter PDF
84.24 KB
20/12/2016 2016/1660 2016-1660 Comment letter to EFRAG on the Draft endorsement advice on Amendments on IFRS 4 Letter PDF
92.19 KB