Review the measures taken by the European and French financial authorities

In this article, learn about the measures taken by the European and French authorities (ESMA, ABE, EIOPA, ECB, AMF, ACPR and Banque de France) in relation to the COVID19 epidemic: 

EBA – 18/06/2020

• EBA extends deadline for the application of its Guidelines on payment moratoria to 30 September

ESMA – 11/06/2020

• ESMA issues a public statement to clarify the application of the MiFIR open access provisions (OAP) for trading venues (TVs) and central counterparties (CCPs) in light of the recent adverse developments related to COVID-19

ECB – 04/06/2020

• ECB announces monetary policy decisions (incl. pandemic emergency purchase programme increased by €600 billion)

EBA – 02/06/2020

• EBA issues Guidelines to address gaps in reporting data and public information in the context of COVID-19

BANQUE DE France – 29/05/2020

• La Banque de France publie un communiqué sur l’impact de la crise du Covid-19 sur la situation financière des ménages et des entreprises

AMF – 20/05/2020

• Publication du rapport financier semestriel dans le contexte Covid-19 : l'AMF présente quelques principes à respecter
• L’AFM publie un FAQ à l’attention des épargnants dans le contexte de l'épidémie du coronavirus (Covid-19)

ESMA – 20/05/2020

• ESMA publishes a Public Statement addressing the implications of the COVID-19 pandemic on the half-yearly financial reports of listed issuers

AMF – 18/05/2020

• L'AMF suspend l’interdiction de créer ou d’augmenter des positions courtes nettes

AMF – 12/05/2020

• L’AMF actualise sa FAQ sur la continuité des activités de gestion en période de coronavirus

ECB – 08/05/2020

• Survey on the Access to Finance of Enterprises: Small businesses report challenging outlook for their access to external financing due to COVID-19

AMF – 07/05/2020

• L’AMF répond aux interrogations des associations professionnelles concernant l’abandon de loyers par les SCPI et OPCI dans un courrier

ACPR – 07/05/2020

• L’ACPR et la DGCCRF coopèrent et appellent à la plus grande vigilance face à la recrudescence des appels frauduleux aux dons en lien avec le Covid-19

ESMA – 06/05/2020

• ESMA, the EU’s securities markets regulator, is issuing a Public Statement on the risks for retail investors when trading under the highly uncertain market circumstances due to the COVID-19 pandemic

ESMA- EBA -EIOPA – 04/05/2020

• Joint RTS on amendments to the bilateral margin requirements under EMIR in response to the COVID-19 outbreak

EIOPA – 30/04/2020

• EIOPA revises its timetable for advice on Solvency II Review until end December 2020

ECB – 30/04/2020

• ECB announces new pandemic emergency longer-term refinancing operations
• ECB recalibrates targeted lending operations to further support real economy

AMF – 30/04/2020

• Robert Ophèle détaille les actions de l'AMF dans le contexte de crise liée au Covid-19

ECB – 29/04/2020

• ECB communication to reporting agents on the extension of deadlines for the reporting of statistical information in the context of COVID-19

EIOPA – 28/04/2020

• EIOPA Recommendations on supervisory flexibility regarding the deadline of supervisory reporting and public disclosure- Coronavirus/COVID-19

AMF – 27/04/2020

• L'AMF publie une étude sur le comportement des particuliers en Bourse en cette période d'épidémie de coronavirus

EIOPA – 27/04/2020

• EIOPA published a consumer guide: Understand your insurance coverage during Coronavirus/COVID-19 Outbreak

EBA – 24/04/2020

• EBA Guidelines on legislative and non-legislative moratoria on loan repayments applied in the light of the COVID-19 crisis

EBA – 22/04/2020

• EBA Statement on the application of the prudential framework on targeted aspects in the area of market risk in the COVID-19
• EBA statement on additional supervisory measures in the COVID-19 pandemic
• EBA Final draft Regulatory Technical Standards On prudent valuation under Article 105(14) of Regulation (EU) No 575/2013 (Capital Requirements Regulation

ECB – 22/04/2020

• ECB takes steps to mitigate impact of possible rating downgrades on collateral availability

EIOPA – 21/04/2020

• EIOPA publishes weekly information for Relevant Risk Free Interest Rate Term Structures and Symmetric Adjustment to Equity Risk with reference to 21 April 2020

ESMA – 17/04/2020

• ESMA issues new Q&A on alternative performance measures in the context of COVID-19

EIOPA – 17/04/2020

• EIOPA Statement on principles to mitigate the impact of Coronavirus/COVID-19 on the occupational pensions sector in Europe

AMF – 17/04/2020

• Covid-19 : l'AMF informe les actionnaires et les sociétés cotées des mesures exceptionnelles prises pour l'organisation des assemblées générales (Mise à jour du communiqué de presse du 25 mars 2020)
• L’AMF, consciente des grandes difficultés rencontrées par les sociétés dans les conditions actuelles, souhaite rappeler quelques principes afin d’accompagner les émetteurs dans la préparation de leurs communications trimestrielles

EBA – 16/04/2020

• EBA Guidelines on legislative and non-legislative moratoria on loan repayments applied in the light of the COVID-19 crisis

BANQUE DE FRANCE – 15/04/2020

• La Banque de France publie une note sur l’action des banques centrales pour aider l’économie à survivre au Covid-19

AMF – 15/04/2020

• L’AMF a décidé de prolonger l’interdiction de toute création de position courte nette et de toute augmentation d’une position courte nette existante, jusqu'au 18 mai 2020

ESMA – 15/04/2020

• ESMA issued opinions agreeing to the renewal of the emergency restrictions on short selling and similar transactions by the Finanzmarktaufsicht (FMA) of Austria, the Financial Securities and Markets Authority (FSMA) of Belgium, the Autorité des Marchés Financiers (AMF) of France, the Hellenic Capital Market Commission (HCMC) of Greece and the Comisión Nacional del Mercado de Valores (CNMV) of Spain

BCE – 15/04/2020

• La BCE soutient les mesures macroprudentielles prises face à l’épidémie de coronavirus

EIOPA – 14/04/2020

• EIOPA published recommendations on supervisory flexibility regarding the deadline of supervisory reporting and public disclosure- Coronavirus/COVID-19
• EIOPA urges insurers and intermediaries to continue to take actions to mitigate the impact of Coronavirus/COVID-19 on consumers

ACPR – 09/04/2020

• L’ACPR annonce un assouplissement des modalités de remise des états de reporting du secteur de la banque

EIOPA – 03/04/2020

• EIOPA published recommendations on supervisory flexibility regarding the deadline of supervisory reporting and public disclosure- Coronavirus/COVID-19

EIOPA – 02/04/2020

• EIOPA issued a statement on dividends distribution and variable remuneration policies in the context of COVID-19

AMF – 02/04/2020

• L'AMF précise ses attentes concernant la continuité des activités de marché en période de Covid-19

ESMA – 02/04/2020

• ESMA updated its risk assessment to account for the impact of the COVID-19 pandemic

EIOPA – 02/04/2020

• EIOPA urges (re)insurers to temporarily suspend all discretionary dividend distributions and share buy backs
• EIOPA published an update on other measures impacted by COVID-19 pandemic

EBA – 02/04/2020

• EBA published guidelines on legislative and non-legislative moratoria on loan repayments applied in the light of the COVID-19 crisis

ECB – 02/04/2020

• ECB extends review of its monetary policy strategy until mid-2021

EIOPA – 01/04/2020

• EIOPA urges insurers and intermediaries to continue to take actions to mitigate the impact of Coronavirus/COVID-19 on consumers

ESMA – 31/03/2020

• ESMA issued a Public Statement to clarify issues regarding the publication by execution venues and firms of the general best execution reports required under RTS 27 and 28  of MiFID II, in light of the COVID-19 pandemic

EBA – 31/03/2020

• EBA provides additional clarity on measures to mitigate the impact of COVID-19 on the EU banking sector
• EBA published a statement on actions to mitigate financial crime risks in the COVID-19 pandemic
• EBA published a statement on dividends distribution, share buybacks and variable remuneration
• EBA published a statement on supervisory reporting and Pillar 3 disclosures in light of COVID-19
• EBA published a statement on actions to mitigate the impact of COVID-19 on the EU banking sector

ESMA – 30/03/2020

• ESMA extends deadline for stakholders group applications

AMF – 30/03/2020

• L’AMF publie des précisions sur les implications comptables sur le calcul des pertes de crédit attendues
• L’AMF apporte quelques précisions sur le calendrier de publication des comptes annuels et semestriels

ESMA – 27/03/2020

• ESMA decided to keep the date of application of the transparency calculations for equity instruments of 1 April 2020 unchanged
• ESMA  issued a Public Statement on the implications of the COVID-19 pandemic on the deadlines for publishing financial reports which apply to listed issuers under the Transparency Directive
• ESMA took actions to mitigate the impact of COVID-19 on the EU financial markets regarding publication deadlines under the Transparency Directive Directive

EIOPA – 27/03/30

• EIOPA will carry out weekly extraordinary calculations to monitor the evolution of the symmetric adjustment to equity risk (ED) in order to support insurance and reinsurance undertakings in the monitoring of their solvency and financial position

ECB – 27/03/2020

• ECB published recommendations on dividend distributions during the COVID-19 pandemic

AMF – 27/03/2020

• L'AMF informe les actionnaires et les sociétés cotées des mesures exceptionnelles prises pour l’organisation des assemblées générales

ESMA – 26/03/2020

• ESMA postponed reporting obligations related to securities financing transactions under the Securities Financing Transactions Regulation and under Markets in Financial Instruments Regulation – 26 March 2020

AMF – 26/03/2020

• L'AMF et l'ACPR mettent en garde le public contre les risques d’arnaques dans le contexte de l’épidémie de coronavirus
• L’AMF apporte des réponses pratiques aux investisseurs concernant l’interdiction des positions courtes nettes sur actions

ACPR – 26/03/2020

• L’ACPR annonce un assouplissement des dates de remise des reporting du secteur de l’assurance

ESMA – 25/03/2020

• ESMA issued a Public Statement on some accounting implications of the economic support and relief measures adopted by EU Member States in response to the COVID-19 outbreak.  (Accounting implications of the COVID-19 outbreak on the calculation of expected credit losses in accordance with IFRS 9)

EBA – 25/03/2020

• EBA published statement on the application of the prudential framework regarding Default, Forbearance and IFRS9 in light of COVID19 measures

EBA – 25/03/2020

• EBA published a statement on consumer and payment issues in light of COVID19
• EBA extended the deadline for the submission of comments to its consultation to update methodology to identify G-SIIs to 5 August 2020
• EBA provides clarity to banks and consumers on the application of the prudential framework in light of COVID-19 measures
• EBA published a statement on actions to mitigate the impact of COVID-19 on the EU banking sector
• EBA extended the deadline for the submission of comments to its consultation on guidelines on the appropriate subsets of exposures in the application of the systemic risk buffer to 13 July 2020
• EBA extended the deadline for the submission of comments to its consultation on draft Regulatory Technical Standards (RTS) on how institutions should calculate the own funds requirements for market risk for their non-trading book positions that are subject to foreign-exchange risk or commodity risk under the FRTB standardised and internal model approaches to 10 June 2020

EIOPA – 24/03/2020

• EIOPA will carry out extraordinary calculations on weekly basis to monitor the evolution of the relevant risk-free interest rate term structures (RFR) and the symmetric adjustment to equity risk (EDA). EIOPA is publishing this information in order to support insurance and reinsurance undertakings in the monitoring of their solvency and financial position

EIOPA – 23/03/2020

• EIOPA published recommendations on supervisory flexibility regarding the deadline of supervisory reporting and public disclosure

ESMA – 23/03/2020

• ESMA published an opinion on a proposed emergency measure by the Austrian Finanzmarktaufsicht

AMF – 23/03/2020

• L’AMF rappelle et complète sa communication concernant le dépôt des documents d'enregistrement universels et règles d'information permanente dans le contexte de la crise du Covid-19

BANQUE DE FRANCE – 23/03/2020

• La Banque de France et le ministère de l’Économie et des Finances mettent en place d’un comité de crise sur la question du crédit inter-entreprises pour répondre aux cas les plus difficiles et désamorcer une tendance à la cessation ou au retard de paiement, à rebours des orientations voulues par l’État en matière de relations entre les clients et leurs fournisseurs

ESMA – 20/03/2020

• ESMA Securities and Markets stakeholder group published own initiative report on Measures relating to the Covid 19 Crisis
• ESMA decided to extend the response date for all ongoing consultations with a closing date on, or after, 16 March by four weeks
• ESMA  issued a Public Statement to ensure coordinated supervisory actions by national competent authorities (NCAs) on the application of the new tick-size regime for systematic internalisers under the Markets in Financial Instruments Regulation (MiFIR) and the Investment Firms Regulation (IFR)
• ESMA clarified issues related to the application of MiFID II requirements on the recording of telephone conversations
• ESMA agreed to emergency net short positions prohibitions by the Financial Securities and Markets Authority (FSMA) of Belgium and the Hellenic Capital Market Commission (HCMC) of Greece

EIOPA – 20/03/2020

• EIOPA issued recommendations on supervisory flexibility regarding deadlines of supervisory reporting and public disclosure by insurers

ECB – 20/03/2020

• ECB Banking Supervision provides further flexibility to banks in reaction to coronavirus
• ECB updated its blog « Our response to the coronavirus emergency »

BANQUE DE FRANCE – 19/03/2020

• Banque de France - Saisine de la Médiation du crédit - Procédure Covid 19

ESMA – 19/03/2020

• ESMA, together with National Competent Authorities (NCAs), is closely monitoring the situation in view of the continuing impact of the COVID-19 outbreak on financial markets in the European Union (EU)

EBA – 19/03/2020

• EBA decided to postpone the EU-wide stress test to 2021 as a measure to alleviate the immediate operational burden for banks

ESMA – 18/03/2020

• ESMA issued an official opinion agreeing to an emergency short selling prohibition, for a period of one month, by the Autorité des marchés financiers (AMF) of France on all transactions which might constitute or increase net short positions on shares admitted to trading on French trading venues (Euronext Paris, Euronext Growth Paris, Euronext Access Paris), for which the AMF is the relevant competent authority as well as to all related instruments relevant for the calculation of the net short position

ECB – 18/03/2020

• ECB announces €750 billion Pandemic Emergency Purchase Programme (PEPP)

ESMA – 17/03/2020

• ESMA issued an official opinion agreeing to an emergency short selling prohibition, for a period of three months, by the Commissione Nazionale per le Società e la Borsa (CONSOB) on all transactions which might constitute or increase net short positions on all shares traded on the Italian MTA regulated market, for which CONSOB is the relevant competent authority as well as to all related instruments relevant for the calculation of the net short position

EIOPA – 17/03/2020

• EIOPA published a statement on actions to mitigate the impact of Coronavirus/COVID-19 on the EU insurance sector

AMF – 17/03/2020

• L’AMF interdit avec effet immédiat toute nouvelle création de position courte nette et toute augmentation d’une position existante
• L’AMF prend une mesure d’urgence sur le fondement du règlement européen sur les ventes à découvert. En conséquence, 92 valeurs seront interdites à la vente à découvert lors de la séance du 17 mars 2020

ESMA – 16/03/2020

• ESMA issued a decision temporarily requiring the holders of net short positions in shares traded on a European Union (EU) regulated market to notify the relevant national competent authority (NCA) if the position reaches or exceeds 0.1% of the issued share capital after the entry into force of the decision

BANQUE DE FRANCE – 16/03/2020

• La Banque de France et les acteurs de la filière fiduciaire restent pleinement mobilisés pour assurer l’accessibilité des billets à l’ensemble des concitoyens

ECB – 12/03/2020

• ECB Banking Supervision provides temporary capital and operational relief in reaction to coronavirus
• ECB published macroeconomic projections for the euro area

ESMA – 11/03/2020

• ESMA, together with National Competent Authorities (NCAs), is closely monitoring the situation in view of the continuing impact of the COVID-19 outbreak on financial markets in the European Union (EU)

AMF – 06/03/2020

• L’AMF rappelle aux actionnaires des sociétés cotées qu’il leur est possible de voter aux assemblées générales sans y être physiquement présent

ECB – 02/03/2020

• ECB President published a statement. The ECB is closely monitoring developments and their implications for the economy, medium-term inflation and the transmission of our monetary policy. We stand ready to take appropriate and targeted measures, as necessary and commensurate with the underlying risks

AMF – 28/02/2020

• L’AMF rappelle certaines règles d’information qui s’appliquent aux sociétés cotées dans le contexte de l’épidémie de coronavirus