3.14.1 General case
Q29. Is there any aspect not covered by the ITS on reporting that would require further clarification? Please detail the reasons for your response.
243. ESMA proposed in the CP a process of determining the counterparty side for each type of SFTs.
244. Under ESMA’s proposal, in the case of repos or BSBs, the buyer is the collateral taker, while the seller is the collateral provider; in the case of SLB or SFTs involving commodities, the lender is the collateral taker, while the borrower is the collateral provider; in the case of margin loans, the lender is the collateral taker, while the borrower is the collateral provider.
245. The vast majority of the respondents supported the proposal stating that the guidance is clear and sufficient.
246. Taking into consideration the received feedback, ESMA will keep the guidelines proposed in the CP and will add an additional reference when reporting the collateralisation on a net exposure basis.
3.14.2 CCP-cleared SFTs
Q30. D
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