The Bank of Italy announces in its notice of intension that it will comply with the revised ESMA Guidelines (ESMA34-49-495) on stress test scenarios under the Money Market Funds Regulation (MMFR), which apply from 27 March 2023.
These Guidelines provide common reference parameters for stress test scenarios for money market funds (MMFs) and managers of MMFs as defined in MMFR. They are expected to make every effort to comply with the guidelines, as required by Article 16 of Regulation (EU) No. 1095/2010.
The comply or explain procedure communication with ESMA will be handled by Consob.
Other Features
assessment
fund management
MMF
notifications
stress testings
supervisory practices
Date Published: 2023-03-27
Regulatory Framework: Money Market Funds Regulation (MMFR)
Regulatory Type: procedure
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