EMIR and Monetary Policy Committee: Difference between pages

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imported>Doug Williamson
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imported>Doug Williamson
(Create the page. Sources: linked pages and Bank of England webpage http://www.bankofengland.co.uk/monetarypolicy/Pages/overview.aspx)
 
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European Market Infrastructure Regulation<ref>http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2012:201:0001:0059:EN:PDF</ref> (EMIR) came into force as binding law within the European Union on 16 August 2012, although certain of its requirements came into force after a period of delay.
''UK - Bank of England.''


The objective of EMIR is to reduce the risks posed to financial systems from the vast web of [[Over the counter]] (OTC) derivative transactions and the contingent large credit exposures that may arise as a consequence. The Regulation achieves this object by three significant requirements for:
(MPC).


• Central clearing and margining of standardised OTC derivatives (with certain exemptions for Non-Financial Counterparties)
Monetary policy is central government or other policy to stimulate or otherwise influence economic activity by influencing money supply or interest rates.


• Reporting of all derivative transactions to a trade repository
Responsibility for setting UK monetary policy - to achieve monetary stability - lies with the Bank of England's Monetary Policy Committee (MPC).


• Risk mitigation measures for all non cleared derivatives including collateral exchange and confirmation and reconciliation procedures
 
With effect from September 2016, the MPC meets eight times a year to set and announce the Official Bank Rate.




== See also ==
== See also ==
* [[ESMA]]
* [[Bank of England]]
* [[MiFID]]
* [[Monetary policy]]
* [[Trade repository]]
* [[Official Bank Rate]]
* [[Legal entity identifier]]
* [[AIFMD]]
* [[CCP]]
* [[CSD]]
* [[FC]]
* [[NFC]]
* [[RTS]]
* [[UTI]]
 
== Other links ==
[http://www.treasurers.org/otc ACT briefing note: European regulation of OTC derivatives: Implications for non-financial companies, April 2013 ]
 
[http://www.treasurers.org/node/9406 EMIR – frequently asked questions for non financial counterparties, ACT webinar September 2013]
 
[http://www.treasurers.org/node/9344 EMIR edges near, The Treasurer, September 2013]
 
 
==References==
<references />
 
[[Category:Capital_Markets_and_Funding]]
[[Category:Managing_Risk]]

Revision as of 13:02, 7 August 2016

UK - Bank of England.

(MPC).

Monetary policy is central government or other policy to stimulate or otherwise influence economic activity by influencing money supply or interest rates.

Responsibility for setting UK monetary policy - to achieve monetary stability - lies with the Bank of England's Monetary Policy Committee (MPC).


With effect from September 2016, the MPC meets eight times a year to set and announce the Official Bank Rate.


See also

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