ESMA publishes its third report on CSDR implementation
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published its CSDR Report on the provision of banking-type ancillary services by central securities depositories (CSDs).
The report contains suggestions to enhance the authorisation process for CSDs to provide banking-type ancillary services themselves. More importantly, it also includes several proposals to facilitate the provision of banking-type ancillary services by non-banking CSDs; in particular to enable them to offer settlement services in foreign currencies.
ESMA’s recommendations will inform the European Commission’s ongoing CSDR Targeted Review, which has identified facilitating the provision of banking-type ancillary services as a key policy priority.
Next steps
The Commission is expected to prepare a legislative proposal by the end of 2021.
Further information:
Sarah Edwards
Communications Officer
✆ +33 (1)58 36 64 23
@ press@esma.europa.eu