Featured Product

    PRA and FCA Finalize Direction on Reporting of Private Securitizations

    January 31, 2019

    PRA and FCA issued the final direction, including the final template, on reporting of private securitizations. This direction comes into effect from January 31, 2019 and is intended to apply to all UK-established originators, sponsors, and securitization special purpose entities (SSPEs).

    The statement clarifies that, where any completed notification form (in Annexes A to F of the Notification Template) would have been required by this direction if this direction had taken effect on January 01, 2019, such a notification form must be provided to the PRA and FCA (as the case may be) in the manner specified in this direction as soon as reasonably possible from the entry into effect of this direction. The Annexes contain main notification form (Annex A) and supplementary notification form (Annex B) for private securitizations that are non-ABCP securitizations, main notification form (Annex C) and supplementary notification form (Annex D) for private ABCP program where the sponsor or SSPE is established in the United Kingdom, and main notification form (Annex E) and supplementary notification form (Annex F) for private ABCP transactions under an ABCP program where neither the sponsor nor the SSPE is established in the United Kingdom

    In this direction, "private securitization" means a securitization where no prospectus has to be drawn up in compliance with Directive 2003/71/EC of the European Parliament and of the Council on the prospectus to be published when securities are offered to the public or admitted to trading. The direction supplements the policy statement PS29/18 on the EU securitization framework, including Significant Risk Transfer, which became effective on January 01, 2019. 

     

    Related Links

    Effective Date: January 31, 2019

    Keywords: Europe, UK, Banking, Securitization Regulation, Securitization Framework, Private Securitizations, Reporting, FCA, PRA

    Related Articles
    News

    BoE Clarifies Approach to Treatment of Payment Holidays on Form PL

    BoE published a statistical notice (Notice 2020/9) explaining the approach for treatment of payment holidays on the profit and loss return or Form PL.

    August 11, 2020 WebPage Regulatory News
    News

    BoE Provides Reporting Update on Form AS and Form FV

    BoE updated the known issues document for the statistical reporting Forms AS and FV.

    August 10, 2020 WebPage Regulatory News
    News

    BIS Publishes Update on G20 TechSprint Initiative

    BIS published an update on the G20 TechSprint Initiative, which was launched in April 2020 and aims to highlight the potential for technologies to resolve regulatory compliance (regtech) and supervisory (suptech) challenges.

    August 10, 2020 WebPage Regulatory News
    News

    FED Announces Capital Requirements for Large Banks

    FED announced individual capital requirements for 34 large banks and these requirements go into effect on October 01, 2020.

    August 10, 2020 WebPage Regulatory News
    News

    SRB Publishes Guidance on Implementation of Bail-In Tool

    SRB published a set of documents to give operational guidance to banks on implementation of the bail-in tool.

    August 10, 2020 WebPage Regulatory News
    News

    OSFI Provides Update on Implementation of IFRS 17 in Canada

    OSFI published a letter that provides an update on the milestones for the implementation of the IFRS 17 standard on insurance contracts.

    August 07, 2020 WebPage Regulatory News
    News

    EBA Provides Clarity on Implementation of Guidance on COVID Reporting

    EBA updated the report on the implementation of selected COVID-19 policies.

    August 07, 2020 WebPage Regulatory News
    News

    FSI Note Discusses Challenges Associated with COVID Relief Measures

    The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.

    August 06, 2020 WebPage Regulatory News
    News

    BCBS Consults on Principles for Operational Risk and Resilience

    BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.

    August 06, 2020 WebPage Regulatory News
    News

    BoE Updates Template and Definitions for Form ER

    BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.

    August 05, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5649