Featured Product

    ESMA Opinion and Q&A on Disclosures Under Securitization Regulation

    January 31, 2019

    ESMA published an opinion containing the revised set of draft regulatory and implementing technical standards on disclosures (disclosure RTS/ITS) under the Securitization Regulation. This opinion is ESMA’s response to a letter from the EC requesting certain amendments to the disclosure technical standards published in the final report of ESMA on August 22, 2018. ESMA also published a set of questions and answers (Q&A) based on stakeholder feedback and questions on the disclosure technical standards received by ESMA since August 22, 2018.

    In its opinion, ESMA agrees with the EC request to amend its disclosure RTS/ITS and, accordingly, has substantially expanded the ability for reporting entities to use the "No Data" options in the respective disclosure templates, in particular in the templates for asset-back commercial paper securitization. In addition, ESMA has also adjusted the content of certain fields in the templates, where it considered that this could more appropriately address the EC request. ESMA has also clarified the templates to be used to provide any inside information as well as information on significant events affecting the securitization (under (f) and (g) of Article 7(1) of the Securitization Regulation). ESMA submitted its opinion containing these revised draft technical standards to the EC for endorsement. These revised RTS/ITS will contribute to delivering a regulatory rule-book for EU securitization markets. The XML schema for these templates shall be made available in the coming months.

    The recently published Q&A cover many technical issues on how to complete template fields and aim to provide guidance to market participants seeking further context that may be helpful for their future expectations of how to comply with these RTS/ITS. Nevertheless, they are being provided in advance of the possible adoption of the disclosure RTS/ITS being adopted by EC and are, therefore, subject to possible changes. 


    Related Links

    Keywords: Europe, EU, Banking, Securities, Securitization Regulation, Disclosures, Implementing Technical Standards, Regulatory Technical Standards, Opinion, Q&A, Templates, ESMA

    Related Articles
    News

    APRA Issues Interim Update to Policy Priorities for 2021 and Beyond

    In a letter addressed to the industry, the Australian Prudential Regulation Authority (APRA) set out an updated schedule of policy priorities for the banking, insurance, and superannuation industries.

    September 24, 2021 WebPage Regulatory News
    News

    EC Adopts Solvency II and Resolution Rules Package for Insurers

    The European Commission (EC) adopted a comprehensive review package of Solvency II rules in the European Union.

    September 22, 2021 WebPage Regulatory News
    News

    OCC Issues Booklets on Regulatory Reporting and Earnings

    The Office of the Comptroller of the Currency (OCC) issued Versions 1.0 of the "Earnings" and "Regulatory Reporting" booklets of the Comptroller's Handbook.

    September 22, 2021 WebPage Regulatory News
    News

    ECB Sets Out Results of Economy-Wide Climate Stress Tests

    The European Central Bank (ECB) published results of its economy-wide climate stress test, which aimed to assess the resilience of non-financial corporates and euro area banks to climate risks.

    September 22, 2021 WebPage Regulatory News
    News

    EBA Examines Implications of Increasing Use of Digital Platforms in EU

    The European Banking Authority (EBA) published a report on the use of digital platforms in the banking and payments sector in European Union.

    September 21, 2021 WebPage Regulatory News
    News

    HKMA Issues Updates on Policy Measures Intended to Ease COVID Impact

    The Hong Kong Monetary Authority (HKMA) published updates on the policy measures that were announced in context of the ongoing pandemic.

    September 21, 2021 WebPage Regulatory News
    News

    ISDA Responds to BCBS Proposal on Treatment of Cryptoasset Exposures

    The International Swaps and Derivatives Association (ISDA), along with several other associations, submitted a joint response to the Basel Committee on Banking Supervision (BCBS) consultation on preliminary proposals for the prudential treatment of cryptoasset exposures.

    September 21, 2021 WebPage Regulatory News
    News

    BIS Quarterly Review Discusses Developments in Fintech and ESG Space

    BIS published the September issue of the Quarterly Review, which contains special features that analyze the rapid rise in equity funding for financial technology firms, the effectiveness of policy measures in response to pandemic, and the evolution of international banking.

    September 20, 2021 WebPage Regulatory News
    News

    BCBS to Consult on Supervisory Practices for Climate Risks by Year-End

    The Basel Committee for Banking Supervision (BCBS) met in September 2021 and reviewed climate-related financial risks, discussed impact of digitalization, and welcomed efforts by the International Financial Reporting Standards (IFRS) Foundation to develop a common set of sustainability reporting standards

    September 20, 2021 WebPage Regulatory News
    News

    OCC Identifies Operational Risk Deficiencies in MUFG Union Bank

    The Office of the Comptroller of the Currency (OCC) issued a Cease and Desist Order against MUFG Union Bank for deficiencies in technology and operational risk governance.

    September 20, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7494