ESMA Updates Lists of STS Securitizations and Supervising Authorities

By Regulatory News

August 05, 2019

Regulatory Reporting: EU

ESMA updated the list of securitizations that have been designated as simple, transparent, and standardized (STS) as of January 01, 2019. Also published was the list of designated competent authorities under the Securitization Regulation. Competent authorities are responsible for supervising the compliance of institutional investors, originators, Securitization Special Purpose Entity (SSPE), original lenders, and third parties with the obligations under the Securitization Regulation.

The Securitization Regulation establishes a general framework for securitization and creates a specific framework for STS securitization. The Regulation confers a number of tasks on ESMA, including to design reporting requirements for a number of features of securitizations, such as details of their underlying exposures, of the securitization instrument structure, and of the performance of the transaction. In addition, securitizations seeking to be considered as STS must fulfill additional criteria and notify ESMA of their fulfillment of these criteria on the basis of notification templates established by ESMA. From January 01, 2019, ESMA must maintain a list of securitizations meeting the STS criteria on its website, in addition to providing the STS notifications. In close cooperation with EBA and EIOPA, ESMA has been also tasked with the responsibility of specifying the general cooperation obligation and information to be exchanged between competent authorities and ESAs.

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Keywords: Europe, EU, Banking, Securities, Securitization Regulation, Reporting, STS Securitization, Competent Authorities, ESMA

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