Featured Product

    FCA Proposals on Authorization of TPVs Under Securitization Regulation

    August 01, 2018

    FCA issued a proposal on the new application and periodic fees for the authorization of Third Party Verification Agents (TPVs) under the Securitization Regulation. The proposal is based on the requirements of the draft European regulatory technical standards and on the existing framework for setting fees. The Securitization Regulation and related amendment to the Capital Requirements Regulation (CRR) came into effect on January 18, 2018 while most of their provisions will come into effect on January 01, 2019. FCA is consulting on a number of changes to ensure that its Handbook is consistent with the directly applicable EU Securitization Regulation and CRR amendment. The consultation closes on October 01, 2018.

    HM Treasury has confirmed its intention to name FCA as the competent authority for the UK and as such FCA will be responsible for authorizing TPVs from January 01, 2019. This will be finally confirmed via the HM Treasury UK Statutory Instrument for Securitization, which is expected to be laid in early December 2018.If FCA is announced as the competent authority for TPVs, then TPVs will need to go through the FCA authorization process before starting business. From September 2018, FCA will consider draft applications. After the Statutory Instrument is laid giving FCA the power to set fees, applicants will be able to formalize their applications by paying the fee.

    A TPV can be used by a sponsor, originator, and securitization vehicle to check whether a Securitization is compliant with simple, transparent, and standardized (STS) criteria, as set out by the Securitization Regulation. TPVs cannot be insurance firms, credit institutions, investment firms, and credit rating agencies. 

     

    Related Links

    Comment Due Date: October 01, 2018

    Keywords: Europe, UK, Banking, Securities, Securitization Regulation, STS Securitization, CRR, TPVs, FCA Handbook, FCA

    Related Articles
    News

    ECB Allows Temporary Relief in Leverage Ratio Amid COVID-19 Pandemic

    ECB published a decision allowing the euro area banks under its direct supervision to exclude certain central bank exposures from the leverage ratio.

    September 21, 2020 WebPage Regulatory News
    News

    ESAs Launch Survey on Templates for Product Disclosures Under SFDR

    ESAs launched a survey seeking feedback on the presentational aspects of product templates under the Sustainable Finance Disclosure Regulation (SFDR or Regulation 2019/2088).

    September 21, 2020 WebPage Regulatory News
    News

    ECB Proposes Integrated Reporting Framework to Reduce Burden for Banks

    ECB published input of the European System of Central Banks (ESCB) into the EBA feasibility report on reducing the reporting burden for banks in EU.

    September 21, 2020 WebPage Regulatory News
    News

    ECB Finalizes Methodology to Assess CCR and A-CVA Risk of Banks

    ECB finalized the guide on assessment methodology for the internal model method for calculating exposure to counterparty credit risk (CCR) and the advanced method for own funds requirements for credit valuation adjustment (A-CVA) risk.

    September 18, 2020 WebPage Regulatory News
    News

    EBA Provides Opinion on Definition of Credit Institution in CRR

    EBA published an Opinion addressed to EC to raise awareness about the opportunity to clarify certain issues related to the definition of credit institution in the upcoming review of the Capital Requirements Directive and Regulation (CRD and CRR).

    September 18, 2020 WebPage Regulatory News
    News

    APRA Consults on Alignment of Daily Liquidity Report for Banks

    APRA is consulting on updates to ARS 210.0, the reporting standard that sets out requirements for provision of information on liquidity and funding of an authorized deposit-taking institution.

    September 17, 2020 WebPage Regulatory News
    News

    FED Releases Scenarios for Second Round of Stress Tests on Banks

    FED released hypothetical scenarios for a second round of stress tests for banks.

    September 17, 2020 WebPage Regulatory News
    News

    FED to Temporarily Revise FR Y-14 Reports to Conduct Stressed Analysis

    FED is proposing to temporarily revise the capital assessments and stress testing reports (FR Y-14A/Q/M) to implement the changes necessary to conduct stressed analysis in connection with the re-submission of capital plans, using data as of June 30, 2020.

    September 17, 2020 WebPage Regulatory News
    News

    FED Revises Information Collection Under Market Risk Capital Rule

    FED adopted a proposal to extend for three years, with revision, the information collection under the market risk capital rule (FR 4201; OMB No. 7100-0314).

    September 17, 2020 WebPage Regulatory News
    News

    EBA Seeks Input on ESG Disclosure Practices of Banks

    EBA published a voluntary online survey seeking input from credit institutions on their practices and future plans for Pillar 3 disclosures on the environmental, social, and governance (ESG) risks.

    September 17, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5809