Banks think SFTR delay a ‘done deal’ amid virus outbreak

Industry letter urges regulators to postpone first two phases of reporting until October

Esma new building_credit Esma.jpg
Letter to Esma asks it to push back the SFTR start date by six months to October 11
Esma

European regulators are considering taking “appropriate measures” on whether to postpone the start date of new repo reporting rules, as banks and supervisors grapple with the operational disruption posed by the coronavirus pandemic.

The potential delay to firms having to report securities-financing transactions to trade repositories under the Securities Financing Transactions Regulation (SFTR) follows a joint letter sent by two industry associations to the European Securities and Markets

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