Press Release: Commission welcomes agreement on improving transparency of certain financial transactions in the shadow banking sector

On 17 June 2015 the European Commission welcomed the political agreement on the proposal for a regulation on reporting and transparency of securities financing transactions (known as SFTR). The agreement follows negotiations between the Commission, the European Parliament and the Council of the EU to find common ground on the regulation. The proposed regulation aims to increase the transparency of certain transactions in the shadow banking sector to avoid that banks circumvent other rules by moving those activities to the shadow banking sector. Today's agreement will significantly improve the transparency of securities financing transactions and help identify their risks and their magnitude.