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    ESMA Finalizes Notification Standard for STS Synthetic Securitizations

    October 12, 2021

    The European Securities and Markets Authority (ESMA) published the final report on technical standards specifying content and format of the simple, transparent, and standardized (STS) notification for on-balance sheet securitizations (synthetic securitizations) to the European Commission. The final report on draft regulatory and implementing technical standards largely reflects the original proposals included in the May consultation paper. The interim STS synthetic notification templates may be voluntarily used by originators and are subject to change, following an endorsement by the European Commission and the entry into force of these associated regulatory and technical implementing standards.

    The final standards are aimed at ensuring consistency between the STS notification frameworks for traditional and synthetic securitizations. Annex IV to this report contains the final draft regulatory technical standards amending the standards laid down in the Commission Delegated Regulation (EU) 2020/1226 with regard to information on STS notifications for on-balance-sheet securitization. Additionally, Annex V to this report contains the final implementing technical standards amending the standards laid down in the Commission implementing Regulation (EU) 2020/1227 with regard to the templates regarding STS notification for on-balance-sheet securitizations. The draft regulatory and implementing technical standards have been submitted to the European Commission for endorsement. In the meantime, originators can make the necessary information available to ESMA by using the interim STS synthetic notification templates. The templates have been updated to reflect changes that have been made following the public consultation on interim STS notification templates in April 2021. 

     

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    Keywords: Europe, EU, Banking, Securities, STS Securitization, Synthetic Securitization, Notification Templates, Reporting, Securitization Framework, Securitization Regulation, EMIR

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