For many European Pension Scheme Arrangements (PSAs), an integral part of their investment approach is to use derivatives to manage their financial solvency risk as their liabilities are often long-dated, one-directional and linked to interest rates.
In December 2022, the EC published the proposal on the EMIR amendments. The proposal is aiming to amend various elements of the regulation. PensionsEurope has prepared a position paper on the new proposals. Our position paper is focusing on the following issues which are particularly crucial for PSAs.
Those are the following:
- Liquidity challenges
- The Active EU account.
- Fixed proportions
- Reporting to the Authorities
- Changes to the Investment Company Directive
You can find more details in our position paper