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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
31/10/2018 Net short thresholds Net short position notification thresholds for sovereign issuers Reference XLSX
27.23 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.

23/08/2018 ESMA50-164-772 Links to the national websites explaining the procedures for notifications of net short positions Reference PDF
227 KB
13/08/2018 ESMA71-99-1024 Press release- Moody's Nordics CRA registration Press Release PDF
224.93 KB
27/07/2018 ESMA71-99-1023 Press release- Nordic Credit Rating AS registered as CRA Press Release PDF
214.63 KB
23/07/2018 ESMA71-99-1017 CRA fine- ESMA fines five banks , Press Release PDF
223.54 KB
23/07/2018 ESMA41-137-1144 Danske- PUBLIC NOTICE Reference PDF
81.01 KB
23/07/2018 ESMA41-137-1145 BoS decision-CRA 2-2017- Danske Decision PDF
635.85 KB
23/07/2018 ESMA41-137-1147 BoS decision-CRA 2-2017- Svenska Handelsbanken AB Decision PDF
690.73 KB
23/07/2018 ESMA41-137-1150 BoS decision-CRA 2-2017- Nordea Decision PDF
714.78 KB
23/07/2018 ESMA41-137-1152 BoS decision-CRA 2-2017- Swedbank Decision PDF
715.12 KB
23/07/2018 ESMA41-137-1153 BoS decision- CRA 2-2017- SEB Decision PDF
706.81 KB
19/07/2018 ESMA 33-9-252 Consulation Paper on Revised Guidelines on Periodic Reporting by CRAs Consultation Paper PDF
1.87 MB
18/07/2018 ESMA33-9-246 Final report on Supplementary Guidelines on Endorsement Final Report PDF
948.62 KB
22/06/2018 ESMA71-99-998 European Supervisory Authorities hold its 2018 Consumer Protection Day , Press Release PDF
315.27 KB
29/05/2018 ESMA70-145-408 Question and Answers (Q&A) on the Regulation on short selling and certain aspects of credit default swaps (SSR) Q&A PDF
536.17 KB
18/05/2018 ESMA33-9-226 CRA Technical Committee Terms of Reference Reference PDF
288.41 KB
30/04/2018 BoA 2018-01 Decision in an appeal by A v ESMA , Decision PDF
392.62 KB
27/04/2018 ESMA22-103-753 Multilateral MoU on cooperation, information exchange and consultation , Statement PDF
731.24 KB
27/03/2018 ESMA33-9-235 reply form Reply form- Consultation on Draft Guidelines on “as stringent as” notion in the CRA Regulation Reference DOCX
766.45 KB
27/03/2018 ESMA33-9-235 Consultation paper- Draft Guidelines on “as stringent as” notion in the CRA Regulation Consultation Paper PDF
964.56 KB