Featured Product

    EP Issues Briefing on Level 2 Measures for Securitization Framework

    August 29, 2018

    European Parliament, or EP, published a briefing to support the work of ECON committee on the scrutiny of delegated acts. The briefing provides an overview of the implementing measures, for which drafts are being prepared by ESAs.

    The focus is on the discussion of August 29, 2018 on the state-of-play of the implementing measures under the new Securitization Regulation (2017/2402) and the Regulation No. 2017/2401. Regulation 2017/2401 amends the Capital Requirements Regulation (CRR) on the treatment of regulatory capital requirements for credit institutions that originate, sponsor, or invest in securitizations. The implementing measures, for which drafts are being prepared by ESAs, include the following:

    • ESMA is working on technical standards on information in the simple, transparent, and standardized (STS) notification and information to be provided in the application for the authorization of a third party verifying STS compliance. Additionally, draft for operational standards and access conditions, along with draft for regulatory and technical standards on application procedures for repositories, is expected by the third or fourth quarter of 2018 while technical advice on the Delegated Act on fees for securitization repositories is expected by the third quarter of 2018.
    • EBA is working on standards on the homogeneity of asset classes and on risk retention
    • ESAs are jointly working on the amendment to European Market Infrastructure Regulation (EMIR) regulatory technical standards on bilateral margins for derivatives related to STS securitizations and the draft for the standards is expected by the third quarter of 2018.

    EC adopted, in September 2015, a proposal for STS Regulation and an amendment to CRR to identify features that make securitization transactions STS and to ensure that incentives are in place to manage the risks of these instruments, based on clear eligibility criteria. The framework entered into force on January 17, 2018 and applies from January 01, 2019. The STS Regulation empowers EC to adopt delegated acts and implementing acts, including regulatory and implementing technical standards.

     

    Related Links 

    Keywords: Europe, EU, Banking, Securities, CRR, Securitization, STS Securitization, Briefing, Regulatory Technical Standards, European Parliament

    Related Articles
    News

    EBA Publishes Phase 2 of Technical Package on Reporting Framework 2.10

    EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.

    July 10, 2020 WebPage Regulatory News
    News

    FASB Proposes to Delay Implementation of Insurance Contracts Standard

    FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).

    July 09, 2020 WebPage Regulatory News
    News

    APRA Updates Regulatory Approach to Loan Deferrals Amid COVID Crisis

    APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.

    July 09, 2020 WebPage Regulatory News
    News

    BCBS and FSB Set Out Recommendations for Benchmark Transition

    BCBS and FSB published a report on supervisory issues associated with benchmark transition.

    July 09, 2020 WebPage Regulatory News
    News

    IAIS Sets Out Recommendations for Benchmark Transition for Insurers

    IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.

    July 09, 2020 WebPage Regulatory News
    News

    ESMA Updates Reporting Manual on European Single Electronic Format

    ESMA updated the reporting manual on the European Single Electronic Format (ESEF).

    July 09, 2020 WebPage Regulatory News
    News

    EBA Calls on Resolution Authorities to Consider Impact of COVID Crisis

    EBA published a statement on resolution planning in light of the COVID-19 pandemic.

    July 09, 2020 WebPage Regulatory News
    News

    BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework

    BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework

    July 08, 2020 WebPage Regulatory News
    News

    ECB Guideline on Materiality Threshold for Credit Obligations Past Due

    ECB published a guideline (2020/97), in the Official Journal of European Union, on the definition of materiality threshold for credit obligations past due for less significant institutions.

    July 08, 2020 WebPage Regulatory News
    News

    FED Temporarily Revises FR Y-14 With Respect to PPP and CARES Act

    FED temporarily revised the capital assessments and stress testing reports (FR Y-14A/Q/M) to implement the changes in response to the COVID-19 pandemic.

    July 08, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5458