The Central Bank of Ireland (CBI) announces in its notice of intension that it will comply with the revised ESMA Guidelines on stress test scenarios under the MMF Regulation (ESMA34-49-495), which apply from 27 March 2023 (please note eventid=19498). These Guidelines provide common reference parameters for stress test scenarios for money market funds (MMFs) and managers of MMFs as defined in Regulation (EU) 2017/1131 – Money Market Funds Regulation. The CBI is committed to ensuring adherence to these guidelines and expects full compliance from all relevant parties.
The CBI plans to consult on incorporating a provision in the Central Bank UCITS Regulations and AIF Rulebook that requires all managers of MMFs to adhere to the guidelines. In the meantime, the Central Bank of Ireland expects full compliance with these guidelines from 27 March 2023.