The European Systemic Risk Board has announced a series of further actions designed to combat the impact of COVID-19 on European financial markets. The actions relate to the five priority areas already identified by the ESRB as requiring particular focus in the context of the COVID-19 pandemic, as follows:
National regulators should report on their implementation of these Recommendations by: November 30, 2020 for Recommendation A, B and C. ESMA should report on its implementation of Recommendation B by December 31, 2021. National regulators should report on their implementation of Recommendation D by December 31, 2021, while the Commission should report on its implementation of Recommendation D by December 31, 2022. The ESRB has also published a report on liquidity risks arising from margin calls, which focuses on actions that national regulators may take with respect to CCPs, banks and other relevant market participants to address liquidity risks.
View the ESRB's latest proposed actions.
View details of the ESRB's actions of May 14, 2020.
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