The purpose of the study is to gather the necessary information and prepare the necessary analyses and assessments for 2 reports that the European Commission will have to deliver to the European Parliament and the Council on exemptions for third-country central banks and certain public bodies: 1 concerning transactions where the counterparty is a third-country central bank and where that transaction is entered into in performance of monetary, foreign exchange and financial stability policy, which could be exempted partially from the Markets in Financial Instruments Regulation (MiFIR); the other concerning transactions, orders or behaviour in pursuit of monetary, exchange rate or public debt management policy which could benefit from an exemption under the Market Abuse Regulation (MAR). These exemptions can only be granted if the European Commission comes to the conclusion that the relevant legal framework regarding these transactions (orders or behaviour) is comparable to the provisions within the EU and finds it is necessary to exempt the central banks and bodies in question.