Financial Institutions are updating the Master Regulatory Reporting Agreement (MRRA) to simplify EU regulatory reporting.
 
In a collaborative effort to simplify reporting processes across various European Union regulatory regimes, major financial institutions, including The Association of Financial Markets in Europe (AFME), Futures Industry Association (FIA), International Capital Market Association (ICMA), International Swaps and Derivatives Association, Inc. (ISDA), and International Securities Lending Association (ISLA), have introduced the Master Regulatory Reporting Agreement (MRRA) to streamline reporting across EU regulatory frameworks.
 
Termed the Master Regulatory Reporting Agreement (MRRA), this landmark agreement offers market participants the option to utilize a unified template. The MRRA aims to facilitate the efficient management of regulatory obligations and service provision related to reporting under the European Market Infrastructure Regulation (EMIR) and the Securities Financing Transactions Regulation (SFTR).
 
Updated on December 6, 2023, the MRRA reflects changes in reporting rules under EMIR REFIT, incorporating amendments to the EMIR Reporting Annexes and Derivatives Annex. This dynamic adaptation showcases the MRRA's responsiveness to evolving regulatory landscapes. With accompanying Explanatory Notes and blacklines against the previous version, the MRRA signifies a crucial step toward harmonizing reporting practices, offering market participants a powerful tool for efficient compliance in the ever-changing financial regulatory environment.
 
For further details and access to the MRRA and its accompanying documents, please refer to the https://www.isda.org/2019/12/19/mrra/