IACT response to ESMA consultation on EMIR technical standards

The Irish Association of Corporate Treasurers (IACT) appreciates the opportunity to comment on the ESMA “Draft Technical Standards for the Regulation on OTC Derivatives, CCPs and Trade Repositories”.

The IACT supports the overall aim of the technical standards being the reduction of risk through the use of sound and resilient practices and appropriate risk mitigation techniques. However, we are concerned that there are a number of aspects of the proposals which, if applied in the context of a non financial counterparty ...

22
AUG
2012

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Accounting, International, Technical Reports

Technical Update – OTC Derivatives Reform

European Market Infrastructure Regulations – June 2012

OTC Derivatives Reform

On 25th June, the European Securities and Markets Authority (ESMA) published its draft proposals for improving the functioning of the derivatives markets in the European Union. The European Markets Infrastructure Regulations (EMIR) aim to reduce risk through the use of sound and resilient central clearing firms, increase transparency through mandatory trade notification mechanisms and reduce counterparty risk through appropriate risk mitigation techniques.

EACT press release

European Association of Corporate Treasurers (EACT)

Press Release – 28 February 2012

The European Commission’s Proposals for Further Regulation of Credit Rating Agencies

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15
MAR
2012

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International

RESULTS OF EACT SURVEY

Click here to view the global results of the last EACT funding survey.

28
FEB
2012

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International, News

EACT Update – Financial Transactions Tax

Addressing the ECON committee of the European Parliament, Richard Raeburn, EACT Chairman argues that the real economy should not bear any costs arising from the proposed Financial Transactions Tax

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7
FEB
2012

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International, News

Technical Report – Accounting – Feb 2012

Future of Irish GAAP – Latest proposal

The Accounting Standards Board published its most recent proposals on the future shape and direction of Irish GAAP earlier in the week. While less radical than previous drafts, it does contain a number of mandatory changes as well as some optional elections that may serve to simplify the traditional corporate financial reporting structure.

Technical Update – Tax & Accounting – January 2012

Ernst & Young/Oxford Economics economic review for financial services for Winter 2012/2012

This report covers the main financial services areas, banking, insurance, asset management and has country forecasts for the major eurozone economies. There is also an analysis of the proposed Financial Transactions Tax.
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Derivative Valuation

Recently, there has been an increase in the use of OIS as a basis for valuing derivatives in the financial markets. Click here for a summary of the main strategic, operational and reporting issues ...

20
JAN
2012

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Tax, Technical Reports, Updates

Outlook for Corporate Treasury Sector for 2012

The general feeling amongst Treasury professionals for 2012 is one of resignation; resignation of the fact that we are entering into a new year that will more than likely be increasingly akin to those years that have gone before. The misplaced optimism that may have been evident in the preceding years since the start of the credit crunch (and subsequent sovereign debt crisis) is gone, as all participants in the market are now punch drunk with the negative sentiment and ...

8
JAN
2012

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News

EACT Press Release – 7th November 2011

EACT highlights European Union’s failure to consider real economy impact of financial regulatory proposals.

The European Association of Corporate Treasurers (EACT) has sent an open letter to the Commissioners of the European Union, expressing grave concern over how in its development of financial regulatory proposals Brussels takes account of their impact on employment, growth and stability in the real economy.

The letter has been signed by 188 European companies and its release follows that of a similar letter in January 2010, in ...

9
NOV
2011

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International, News

Technical Update: Lease Accounting

Lease Accounting – Piecemeal approach to changes continue – Opportunity for public comment over next few months.

Some more information and detail on the proposals to change lease accounting emerged last week. The two areas covered were the circumstances where profit can be recognised by lessors on entering a lease and dealing with uncertainties.

Lessor Accounting and profit recognition

Lessors will account for leases using a “receivable and residual” approach. Under this approach, a lessor would derecognize the underlying asset and record a ...