Commission publishes responses on FX: The Commission has published the responses it has received on its consultation on the delineation between FX spot and derivative contracts. The Futures Industry Association says that settlement periods should not be considered an accurate metric for such delineation and raises concerns about "last look" functionality, whereby a liquidity provider has the opportunity to reject a trade within a given interval. (Source: FX Financial Instruments Responses)
Commission starts work on banks' contributions to resolution funds: The Commission has started its work on the delegated act that will establish banks’ contributions to the national resolution funds under the Bank Recovery and Resolution Directive. It is also preparing a proposal for a Council implementing act in relation to contributions to the Single Resolution Fund for banks within the Banking Union. (Source: Council Memo)
