Regulatory Alerts2022-10-07
Added · Updated
Commission Implementing Regulation (EU) 2022/1860 laying down implementing technical standards for derivative reporting under Regulation (EU) No 648/2012
This regulation establishes technical standards for reporting derivative contracts, requiring data to be submitted in a common XML template using ISO 20022 methodology. It mandates the use of ISO 17442 Legal Entity Identifiers (LEI) for counterparties and entities, and specifies the generation and communication of Unique Transaction Identifiers (UTI) by designated entities within 10:00 a.m. UTC the following working day. The text defines precise rules for determining counterparty direction, classifying collateralization types, and identifying derivatives via ISO 6166 ISIN or ISO 4914 UPI codes. It further requires daily reporting of collateral modifications and end-of-day valuations, and sets out procedures for notifying competent authorities of reporting obstacles or significant errors.