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Everything You Always Wanted to Know About EMIR Reporting

Surely the problem of the ‘collateralisation’ requirement (via CCP) under EMIR is the wood for which we cannot see the trees of the reports and confirmations that we have to issue? Everything leads us to think that, since everyone’s mind is so focused on the cash collateral to be provided, they forget that, as of September 2013, they need to be ready to report all their financial instruments.

Some people are going to be very surprised and caught off balance, you can be sure of that. Technology and automation will be needed to cope with it. Hurry up and ensure that you are in a position to comply!

Key Points

  • All entities will need to report on their whole portfolio of financial instruments, with no exceptions as to type or size, external and inter-company, to ESMA, in a particular format
  • It is reasonable to suppose that the banks will not provide this service, and still less will they do it for free
  • What will these tons of data gathered by ESMA be used for?
  • The collateral wood that hides the reporting trees
  • Obligations under EMIR - Overview
  • Risk mitigation, confirmation, reconciliation, dispute and bilateral collateral

 

Written by

François Masquelier
Head of Corporate Finance and Treasury, RTL Group, and Honorary Chairman of the European Association of Corporate Treasurers
RTL Group

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