Featured Product

    ECB Publishes Guide on Notification of Securitization Transactions

    March 18, 2022

    The European Central Bank (ECB) published a non-binding guide, along with an associated template, to set out the notification practices that significant institutions acting as originators or sponsors of a securitization transaction are advised to follow.

    ECB recommends that significant institutions follow this guide with respect to all securitization transactions originated after April 01, 2022, though ECB may request information, on a case-by-case basis, for securitization transactions that originated before this date. The guide specifies information that significant institutions are expected to submit to ECB, both at origination and during the life of securitization transactions, if a significant event (as defined in Article 7 (1) g) of the Securitization Regulation) occurs relating to the transactions, affecting compliance with Articles 6 to 8. ECB foresees a phase-in implementation until October 01, 2022 for the significant institutions unable to properly notify ECB from April 01, 2022. During the phase-in period, significant institutions are expected to finalize set-ups and systems to be able to submit notifications in line with the expectations of the guide. It is recommended that new transactions be notified to ECB no later than one month from the date of origination. ECB consulted on the draft guide on the notification of securitization transactions from November 2021 to January 2022. ECB also published the comments received on the draft guide. 

    The Securitization Regulation establishes a comprehensive legislative framework applicable to all securitizations, including requirements with regard to risk retention (Article 6), transparency (Article 7), and a ban on resecuritization (Article 8). The requirements of Articles 6 to 8 cover all securitizations within the scope of the Securitization Regulation, including public and private transactions; traditional, synthetic, and asset-backed commercial paper, or ABCP, transactions; and securitizations that are structured to achieve significant risk transfer and those that are not. The guide recommends that significant institutions acting as originators or sponsors for either private or public securitizations notify ECB of compliance of these transactions with Articles 6 to 8 of the Securitization Regulation. Notifications are expected to be submitted via a dedicated template, published alongside the guide. The guide will be updated from time to time to reflect developments in the regulation and supervision of securitizations.

     

    Related Links

     

    Keywords: Europe, EU, Banking, Securitization Regulation, Securitization Framework, Securitization Transactions, Guidelines, ECB

    Related Articles
    News

    EBA Sets Out Roadmap for 2023, Updates Reporting Framework 3.2

    The European Banking Authority (EBA) published its work program for 2023 as well as the technical package for phase 3 of version 3.2 of its reporting framework.

    September 30, 2022 WebPage Regulatory News
    News

    FED Announces Launch of Climate Scenario Analysis Exercise in 2023

    The Board of Governors of the Federal Reserve System (FED) announced a pilot climate scenario analysis exercise for six largest banks in the U.S.

    September 29, 2022 WebPage Regulatory News
    News

    BIS Paper Studies Impact of Fintech Lending on Small Businesses in US

    The Bank for International Settlements (BIS) published a paper that studies impact of fintech lending on credit access for small businesses in U.S.

    September 26, 2022 WebPage Regulatory News
    News

    UK Regulators Issue CRR Changes and Stress Test Scenarios for Banks

    The Prudential Regulation Authority (PRA) issued the policy statement PS8/22 to amend the Own Funds and Eligible Liabilities (CRR) Part of the PRA Rulebook and update the supervisory statement SS7/13 titled "Definition of capital (CRR firms).

    September 26, 2022 WebPage Regulatory News
    News

    EBA Launches EU-Wide Transparency Exercise in 2022

    The European Banking Authority (EBA) launched the EU-wide transparency exercise for 2022, with results of the exercise expected to be published at the beginning of December, along with the annual Risk Assessment Report.

    September 23, 2022 WebPage Regulatory News
    News

    SRB on CRR Quick-Fix to Policy for Multiple Point of Entry Banks

    The Single Resolution Board (SRB) welcomed the adoption of the review of the Capital Requirements Regulation, or CRR, also known as the "CRR quick-fix."

    September 22, 2022 WebPage Regulatory News
    News

    EC Rule Lists Advanced Economies for Market Risk Capital Calculations

    The European Commission (EC) recently adopted the Delegated Regulation 2022/1622, which sets out the regulatory technical standards to specify the countries that constitute advanced economies for the purpose of specifying risk-weights for the sensitivities to equity.

    September 21, 2022 WebPage Regulatory News
    News

    EBA Publishes Final Regulatory Standards on STS Securitizations

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.

    September 20, 2022 WebPage Regulatory News
    News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News
    News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8523