Q23. Do TRs require additional guidance in relation to how reports submitted by the entities mentioned in Article 2(2) and (3) of SFTR should be treated and the relevant procedures to follow? If so please confirm where further guidance is required.
181. SFTR explains that the reporting obligation and the requirements relating to reuse of collateral do not apply to transactions when one counterparty is a member of the ESCB, or a member states’ body which performs a similar function, or another Union public body charged with/intervening in the management of the public debt, or the Bank for International Settlements.
182. In addition, Article 2(3) of SFTR confirms that the reporting obligation does not apply when one counterparty is a member of the ESCB. In the ESMA CP on reporting guidelines under SFTR, ESMA proposed that in the event an entity referred to in Article 2(2) or Article 2(3) reports a transaction to a TR, the TR should reject the report.
183. Five respondents commented on
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