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February 19, 2018

ESMA published the public hearing presentation of its consultation papers on draft regulatory standards under the securitization regulation. The presentation offers an overview of the securitization regulation and presents timelines for the related ESMA deliverables, transparency requirements, also covering scope and timing of reporting arrangements, along with the key elements of simple, transparent, and standardized (STS) securitization criteria and notification.

ESMA will develop regulatory technical standards specifying the information to be provided by third parties to the competent authority for authorization regarding STS. The presentation specifies that ESMA is expected to publish consultations on regulatory and implementing technical standards on information in the STS notification, on authorization rules for third-party firms verifying STS status, and on amendments to European Market Infrastructure Regulation, or EMIR, (collateral and margining) for STS securitizations (joint with EBA) by July 18, 2018. Moreover, ESMA will publish, by January 18, 2019, consultation papers on regulatory and implementing technical standards on transparency requirements, along with the regulatory technical standards on operational standards for collection and verification of data; on securitization repositories; and on cooperation arrangements between competent authorities and ESAs by January 18, 2019.

   

Related Link: Presentation (PDF)

Keywords: Europe, EU, Securities, Banking, Securitization, STS Securitization, Authorization Rules, Public Hearing, Reporting, ESMA

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