CySEC
Introduction of prudential reporting of CIFs through CySEC’s XBRL Portal – Extension of deadline
30 January 2023 Following the Cyprus Securities and Exchange Commission ("CySEC") Circular C546 regarding the introduction of prudential reporting through CySEC’s XBRL Portal, CySEC would like to inform the Cyprus Investment Firms ("CIFs") that the deadline for the submission through CySEC’s XBRL Portal of the prudential reports mentioned in point 5(d) of the C546 is extended. In particular, all Class 2 CIFs should proceed to the submission of their prudential reporting for the dates 31 March 2022, 30 June 2022 and 30 September 2022 through the CySEC’s XBRL portal by Friday, 10 February 2023.
EBA Launches public consultation on the amending ITS on supervisory reporting to introduce new IRRBB reporting
31 January 2023
"The European Banking Authority ("EBA") launched a public consultation on its draft Implementing Technical Standards ("ITS") on supervisory reporting with respect to Interest Rate Risk in the Banking Book ("IRRBB"). Proportionality is a key consideration in the proposed new reporting, in order to make reporting requirements better suited to the size and risk of the institutions. The consultation runs until 2 May 2023." For more information please press here.
Market News
Bloomberg
Oil suffers 5% weekly loss as China optimism dims, holdings rise
03 February 2023
"Oil headed for a second weekly drop as optimism over a recovery in Chinese demand dimmed and US stockpiles kept rising. West Texas Intermediate fell toward $75 a barrel, set for a loss of about 5% this week. The China reopening trade for commodities has flagged amid questions over the timing and extent of the country’s recovery. In the US, data midweek showed nationwide holdings expanded for a sixth week." For more information please press here.
Reuters
Financials aid rise in Indian shares; Adani stocks cap gains
03 February 2023 "Indian shares rose on Friday, aided by rise in financials and optimism that the rate hike cycle may be near its end after global central banks hinted at inflation easing, while the ongoing rout in Adani group stock capped gains." For more information please press here.
Financial Times
US stocks jump after Fed announces smaller rate rise
01 February 2023 "US stocks closed at their highest level since last summer and government bonds swung higher on Wednesday after the Federal Reserve announced a further slowdown in the pace of interest rate rises. The US central bank lifted its benchmark interest rate 0.25 percentage points to a range of 4.5 per cent to 4.75 per cent. The widely expected move in the federal funds rate was less than previous increases of 0.5 or 0.75 percentage points undertaken at recent meetings." For more information please press here.
Cryptocurrencies
MarketWatch
Bitcoin jumps 3% after Powell says disinflation underway
01 February 2023
"Bitcoin jumped 3% after the Federal Reserve on Wednesday raised its key interest rate by a quarter of a percentage point, but signaled that only a couple more rate increases may be needed before the central bank takes a pause on its fight against inflation. The largest cryptocurrency BTCUSD, rose to as high as $23,650 on Wednesday, up 2% over the past 24 hours, according to CoinDesk data. The move coincided with a rally in technology stocks, with the Nasdaq Composite COMP, rising 2% Wednesday, according to FactSet data." For more information please press here.
Regulatory Reporting Solutions
Treppides Regulatory Reporting offers extensive reporting solutions under EMIR, MIFID, CRD IV, FATCA, CRS, REMIT towards MiFID II / MiFIR and CRS in all EU/ESMA jurisdictions like Cyprus (CySEC) and UK (FCA) and soon will also comply with foreign jurisdictions such as ASIC DTR.
