(Only in Italian)
L’IVASS ha disposto l’oscuramento dei seguenti siti web:

Published in the Official Journal of European Union of 16 May 2022 the Guideline (EU) 2022/747 of the European Central Bank (ECB) of 5 May 2022 amending Guideline 2012/120/EU on the statistical reporting requirements of the European Central Bank in the field of external statistics (ECB/2011/23) (ECB/2022/23).
In a complex global financial system with increasing cross-border linkages, entities known as special purpose entities (SPEs) play an important role. Multinational enterprises (MNEs) establish SPEs to channel their financial investments, increase access to multiple financial markets, and organise their tangible and intangible assets globally. SPEs have become increasingly relevant in external statistics as they may take the form of financial specialised entities, or, more recently, also non-financial specialised entities that MNEs establish to manage intellectual property rights, research and development, trade and other activities as part of a group-wide financial and profit maximisation strategy.
The statistical information relating to SPEs would allow the Eurosystem to obtain a better understanding of the role of these entities in the economic and financial system of the euro area. In particular, the statistical information on the activity of SPEs in Member States whose currency is the euro with a high concentration of SPEs would enable the Eurosystem to analyse and interpret cross-border interconnectedness from flows and positions of SPEs and to assess the associated financial and economic risks for the purpose of financial stability analysis. However, while the statistical information on SPEs, as institutional units, is already collected at national level, it is not separately reported to the ECB.
The first transmission of data relating to cross-border transactions and stocks of resident SPEs shall take place in March 2023 in respect of data for the fourth quarter of 2022.
Quarterly data in respect of the period from the first quarter of 2020 shall be transmitted no later than September 2023.
ESMA has released a Public Statement  on the implications of Russia’s invasion of Ukraine on investment fund portfolios.

ESMA recognises the human cost of Russia’s military aggression against Ukraine, and the significant challenges to business activities and effects on the global economic and financial system posed by the invasion. The statement, with the aim of promoting investor protection and convergence, provides overarching messages to fund managers including high level guidance on:
  • the appropriate action in case of exposures to Russian, Belarusian and Ukrainian assets, given valuation and liquidity uncertainties;
  • the process fund managers should follow when evaluating these assets; and
  • whether it may be considered to use side pockets or similar arrangements to segregate these assets.
ESMA has published six Final Reports  on the central counterparties (CCPs) resolution regime under the CCP Recovery and Resolution Regulation (CCPRRR).

The Final Reports set out proposals for Regulatory Technical Standards (RTSs) on:
  • the content of CCP resolution plans;
  • resolution colleges;
  • valuation of CCPs’ assets and liabilities in resolution; and
  • safeguards for clients and indirect clients.
The Final Reports also cover Guidelines on the circumstances under which a CCP is deemed to be failing or likely to fail as well as on the methodology to value each contract prior to termination.
ESMA’s proposed RTSs and Guidelines provide further details of the CCPRRR that are aimed at guiding resolution authorities in developing effective resolution plans. The overarching goal of ESMA’s reports is to contribute to market preparedness generally and in the unlikely event of a CCP entering into resolution.
ESMA submitted the Final Reports on RTSs to the European Commission which now has three months to decide whether to endorse the proposed standards under a Delegated Regulation.
The objective of the draft ITS is to provide a common standard for the NPL transactions across the EU enabling cross-country comparison and thus reducing information asymmetries between the sellers and buyers of NPL.

Common templates, including data fields with their definitions and characteristics set out in the draft ITS would facilitate the sales of NPL on secondary markets, increase efficiency of those markets and reduce entry barriers for small credit institutions and smaller investors wishing to conclude transactions.
The draft ITS are built around the templates to be used for the provision of loan-by-loan information regarding counterparties related to NPL, contractual characteristics of the loan itself, any collateral and guarantee provided with the associated enforcement procedures and the historical collection and repayment schedule of the loan. The NPL transaction templates are also complemented by a data glossary and the instructions for filling in the templates.
The consultation will end on 31 August 2022.