Regulatory Alerts2022-03-21
Added · Updated
CSSF Circular 22/802 on the treatment of structural FX under Article 352(2) of Regulation (EU) No 575/2013
The CSSF integrates the European Banking Authority Guidelines on the treatment of structural foreign exchange under Article 352(2) of Regulation (EU) No 575/2013 into its administrative practice and regulatory approach. Less Significant Institutions, CRR investment firms, and Luxembourg branches of third-country credit institutions or CRR investment firms must comply with these guidelines, which set criteria for excluding structural FX positions from net open currency position calculations. The circular applies with immediate effect.
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