ESMA updated the questions and answers (Q&A) document on Securitization Regulation, in addition to publishing the final report on the guidelines on portability of information between securitization repositories under the Securitization Regulation. The guidelines set out common provisions that a securitization repository should follow when transferring securitization information to another securitization repository. ESMA will consider these guidelines for supervision as of January 01, 2021, except for the guidelines related to Article 78(9)(c) of European Market Infrastructure Regulation (EMIR), which ESMA will consider for supervision as of June 18, 2021.
The additional Q&A address how to report certain underlying exposures that benefit from a COVID-related debt moratorium or payment holiday and address a query that relates to the underlying exposures for residential real estate. Many more updates or modifications relate to the other reporting and disclosure requirements under the Securitization Regulation. This Q&A document is to promote common, uniform, and consistent supervisory approaches and practices in the day-to-day application of Securitization Regulation (Regulation 2017/2402) by providing responses to questions asked by the public, financial market participants, competent authorities, and other stakeholders.
Keywords: Europe, EU, Banking, Securities, Securitization Regulation, Q&A, COVID-19, Debt Moratorium, Payment Holiday, Credit Risk, Reporting, Disclosures, ESMA
Scott is a Director in the Regulatory and Accounting Solutions team responsible for providing accounting expertise across solutions, products, and services offered by Moody’s Analytics in the US. He has over 15 years of experience leading auditing, consulting and accounting policy initiatives for financial institutions.
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