Report under Article 29(3) of Regulation (EU) 2015/2365 of 25 November 2015 on transparency of securities financing transactions and of reuse

Regulation (EU) 2015/2365 on the transparency of securities financing transactions and of reuse (SFTR) aims to get a better understanding of the effects of shadow banking (non-bank credit intermediation) and to address the risks posed by securities financing transactions (SFTs).

At the global level, the Financial Stability Board (FSB) is responsible for identifying such risks and developing recommendations to address them in an internationally coordinated manner.

In August 2013, the FSB adopted a policy framework for addressing shadow banking risks in securities lending and repos. The framework includes a set of policy recommendations and was endorsed by the G20 Leaders in September 2013.

A number of the recommendations aim at enhancing the transparency of SFT markets through frequent and granular regulatory reporting. SFTR responds to these recommendations at EU level.