Regulatory Alerts2024-05-09
ESMA Guidelines on Stress Testing Scenarios under the Money Market Fund Regulation – HANFA Confirms Full Compliance with 9 May 2024
HANFA, Croatia's securities regulator, issued this notice on 9 May 2024 to confirm its full compliance with ESMA’s Guidelines on Stress Testing Scenarios under the Money Market Fund Regulation. The notice mandates that competent authorities, money market funds, and fund managers apply the stress testing guidelines in their entirety starting from 6 May 2024. It establishes a binding commitment for supervised entities to align their stress testing methodologies and reporting with the specified ESMA framework without partial application.
Notice to Supervised Entities on the Application of the Guidelines on Stress Testing Scenarios under the Money Market Fund Regulation Published: 9 May 2024. Pursuant to Article 2(4) of the Capital Markets Act (Official Gazette, No. NN 17/2020), HANFA on 9 May 2024 submitted its opinion to the European Securities and Markets Authority (ESMA) confirming that it is committed to fully comply with the provisions of the Guidelines on Stress Testing Scenarios under the Money Market Fund Regulation. Notice on the Application of the Guidelines on Stress Testing Scenarios under the Money Market Fund Regulation
Guidelines Description Name of the guidelines: Guidelines on Stress Testing Scenarios under the Money Market Fund Regulation Supervised entities to which the guidelines apply: These guidelines apply to: • competent authorities, • money market funds, and • managers of money market funds as defined in the Money Market Fund Regulation. Application of the guidelines: fully or partially: The guidelines apply in full. Start date of application of the guidelines: 6 May 2024. Link to the European supervisory authority's guidelines: ESMA Guidelines on Stress Testing Scenarios under the Money Market Fund Regulation.