Featured Product

    ESMA Consults on Technical Standards on Securitization Requirements

    December 19, 2017

    ESMA published three consultation papers on the draft technical standards implementing the Securitisation Regulation. The Regulation establishes a general framework for securitization and creates a specific framework for simple, transparent, and standardized (STS) securitisation. The consultation is open for feedback until March 19, 2018. ESMA will use the feedback received to help finalize its draft technical standards and expects to publish a final report in July 2018 (for the STS notification and third-party application requirements) and by the end of 2018 (for the reporting requirements and operational standards/access conditions).

    The Regulation requires certain information to be reported about securitizations to repositories, including details of their underlying exposures, details of the securitization structure, and information on the securitization cash flows. The securitization repositories will be registered and supervised by ESMA. In addition, securitizations seeking to be designated as STS must fulfil additional criteria and notify ESMA of their fulfilment of these criteria. Finally, third-party entities may seek to be authorized by a national competent authority to assess the compliance of securitizations with the STS criteria. The Regulation includes a number of mandates for ESMA to draft technical standards on these provisions. Accordingly, ESMA’s just-published consultation papers seek stakeholder views on:

    • The contents and format of underlying exposures and investor report templates, which aim to meet the reporting requirements of the Regulation
    • The operational standards for providing these reports to securitization repositories and for accessing this information from securitization repositories; moreover, the specific conditions for the entities specified in the Regulation to access information from securitization repositories
    • The contents and format of the notification to ESMA of a securitization’s STS status
    • The application requirements for third-party entities seeking to be authorized as providers of STS verification services

     

    Related Link: Press Release

    Comment Due Date: March 19, 2018

    Keywords: Europe, EU, Securities, Securitization Framework, STS Securitization, Reporting Requirements, ESMA

    Featured Experts
    Related Articles
    News

    Regulators Fine Goldman Sachs for Risk Management Failures

    FCA and PRA in the UK, FED in the US, and the authorities in Singapore have fined Goldman Sachs for risk management failures in connection with the 1Malaysia Development Berhad (1MDB).

    October 23, 2020 WebPage Regulatory News
    News

    Canada Hosts International Conference of Banking Supervisors

    BCBS announced that OSFI and the Bank of Canada hosted the 21st International Conference of Banking Supervisors (ICBS) virtually on October 19-22, 2020.

    October 22, 2020 WebPage Regulatory News
    News

    FCA Proposes More Measures to Help Insurance Customers Amid Crisis

    FCA proposed guidance on how firms should continue to seek to help customers who hold insurance and premium finance products and may be in financial difficulty because of COVID-19, after October 31, 2020.

    October 21, 2020 WebPage Regulatory News
    News

    EBA Issues Opinion to Address Risk Stemming from Legacy Instruments

    EBA issued an opinion on prudential treatment of the legacy instruments as the grandfathering period nears an end on December 31, 2021.

    October 21, 2020 WebPage Regulatory News
    News

    ESRB Publishes Non-Bank Financial Intermediation Risk Monitor for 2020

    ESRB published the fifth issue of the EU Non-bank Financial Intermediation Risk Monitor 2020 (NBFI Monitor).

    October 21, 2020 WebPage Regulatory News
    News

    HM Treasury Publishes Policy Statement Amending Benchmarks Regulation

    HM Treasury announced that the new Financial Services Bill has been introduced in the Parliament.

    October 21, 2020 WebPage Regulatory News
    News

    APRA Initiates Action Against a Bank for Liquidity Compliance Breach

    APRA announced that it has increased the minimum liquidity requirement of Bendigo and Adelaide Bank for failing to comply with the prudential standard on liquidity.

    October 21, 2020 WebPage Regulatory News
    News

    PRA Consults on Implementation of Certain Provisions of CRD5 and CRR2

    PRA published the consultation paper CP17/20 to propose changes to certain rules, supervisory statements, and statements of policy to implement elements of the Capital Requirements Directive (CRD5).

    October 20, 2020 WebPage Regulatory News
    News

    US Agencies Finalize Rule to Reduce Impact of Large Bank Failures

    US Agencies adopted a final rule that applies to advanced approaches banking organizations and aims to reduce interconnectedness in the financial system as well as to reduce contagion risks associated with the failure of a global systemically important bank (G-SIB).

    October 20, 2020 WebPage Regulatory News
    News

    US Agencies Finalize Rule on Net Stable Funding Ratio Requirements

    US Agencies (FDIC, FED, and OCC) adopted a final rule that implements the net stable funding ratio (NSFR) for certain large banking organizations.

    October 20, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 6004