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

    ESMA Releases Enforcement Priorities for 2019 Annual Financial Reports

    ESMA published a statement on the priorities that European enforcers will consider when examining the 2019 annual financial reports of listed companies.

    October 22, 2019 WebPage Regulatory News
    News

    EC Consults on Alternative Standardized Approach for Market Risk

    EC is consulting on a delegated regulation amending the Capital Requirements Regulation (CRR) with regard to the alternative standardized approach for market risk.

    October 21, 2019 WebPage Regulatory News
    News

    CPMI Report Examines Impact of Global Stablecoins

    This report by the G7 Working Group on Stablecoins finds that stablecoins, regardless of size, have implications ranging from anti-money laundering efforts across jurisdictions to operational resilience (including for cyber security), consumer or investor and data protection, and tax compliance.

    October 18, 2019 WebPage Regulatory News
    News

    BoE Announces Date for Publication of Stress Test Results for Banks

    BoE announced its plans to publish results of the full UK annual stress tests on December 10, 2019.

    October 18, 2019 WebPage Regulatory News
    News

    US Agencies Request Comments on Use and Impact of CAMELS Ratings

    US Agencies (FDIC and FED) are seeking information and comments from interested parties regarding the consistency of ratings assigned by the agencies under the Uniform Financial Institutions Rating System (UFIRS).

    October 18, 2019 WebPage Regulatory News
    News

    PRA Consults on Approach to Supervising Liquidity and Funding Risks

    In consultation paper (CP27/19), PRA published a proposal (CP27/19) to update the supervisory statement SS24/15 on the PRA approach to supervising liquidity and funding risk.

    October 17, 2019 WebPage Regulatory News
    News

    US Agencies Consult on Policy Statement on Allowance for Credit Losses

    US Agencies (FDIC, FED, NCUA, and OCC) are consulting on the policy statement on allowances for credit losses and on the guidance on credit risk review systems.

    October 17, 2019 WebPage Regulatory News
    News

    FSI Paper Examines Use of Suptech Initiatives by Financial Authorities

    The Financial Stability Institute (FSI) of BIS published a paper that examines the suptech developments by analyzing suptech initiatives of 39 financial authorities globally.

    October 17, 2019 WebPage Regulatory News
    News

    US Agencies Publish Notice to Extend Form FFIEC 102 for Three Years

    US Agencies (FDIC, FED, and OCC) published a joint notice regarding extension of the market risk regulatory report for institutions subject to the market risk capital rule (FFIEC 102).

    October 17, 2019 WebPage Regulatory News
    News

    ECB Publishes Recommendations on Euro Risk-Free Rates Transition

    ECB published a report, by private sector working group on euro risk-free rates, which contains recommendations, from a risk management perspective, on the transition to new risk-free rates.

    October 17, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4006