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.
- List of Securitizations Designated as STS (XLSX)
- List of Designated Competent Authorities (PDF)
- Overview of Securitization Regulation
Keywords: Europe, EU, Banking, Securities, Securitization Regulation, Reporting, STS Securitization, Competent Authorities, ESMA
Previous ArticleChristopher Woolard of FCA on Regulation of Crypto-Assets
EU published Directive 2021/338, which amends the Markets in Financial Instruments Directive (MiFID) II and the Capital Requirements Directives (CRD 4 and 5) to facilitate recovery from the COVID-19 crisis.
The Standing Committee of the European Free Trade Association (EFTA) recommended that a systemic risk buffer level of 4.5% for domestic exposures can be considered appropriate for addressing the identified systemic risks to the stability of the financial system in Norway.
In a recent statement, PRA clarified its approach to the application of certain EU regulatory technical standards and EBA guidelines on standardized and internal ratings-based approaches to credit risk, following the end of the Brexit transition.
In a recently published letter addressed to the G20 finance ministers and central bank governors, the FSB Chair Randal K. Quarles has set out the key FSB priorities for 2021.
EU published, in the Official Journal of the European Union, a corrigendum to the revised Capital Requirements Regulation (CRR2 or Regulation 2019/876).
ESAs published a joint supervisory statement on the effective and consistent application and on national supervision of the regulation on sustainability-related disclosures in the financial services sector (SFDR).
EC published a public consultation on the review of crisis management and deposit insurance frameworks in EU.
HKMA announced that enhancements will be made to the Special 100% Loan Guarantee of the SME Financing Guarantee Scheme (SFGS) and the application period will be extended to December 31, 2021.
EBA launched consultations on the regulatory and implementing technical standards on cooperation and information exchange between competent authorities involved in prudential supervision of investment firms.
BoE issued a letter to the CEOs of eight major UK banks that are in scope of the first Resolvability Assessment Framework (RAF) reporting and disclosure cycle.