26 October 2024: End of the Transition Period under the EMIR RTS and ITS on reporting

Following the CSSF’s Press Release 22/33 on EMIR Refit reporting that was published on 21 December 2022 and in accordance with Article 10 of the Commission Implementing Regulation (EU) 2022/1860 of 10 June 2022 laying down implementing technical standards for the application of EMIR, counterparties to a derivative contract or entities responsible for reporting shall update all their outstanding derivatives to conform with the revised reporting requirements by 26 October 2024.

In this context, for all derivatives that remain outstanding after that date, counterparties shall submit a report with event type ‘Update’, unless they have submitted a report with the action type ‘Modify’ or ‘Correct’ for such derivatives before this date.

Further information on the actions to be taken before the end of the transition period can be found in Section 4.1 of the ESMA Final Report on Guidelines for reporting under EMIR.