Updates to the List of Synthetic Securitisation notified to ESMA

The Regulation (EU) 2017/2402 of the European Parliament and of the Council, known as the Securitisation Regulation, lays down a general framework for securitisation and creates a specific framework for simple, transparent, and standardised (“STS”) securitisation.

In this regard, Articles 19 to 22 of the Securitisation Regulation lay down the requirements for STS non-ABCP securitisation, and Articles 23 to 26 of the same Regulation for STS ABCP securitisation. Article 27 of the Securitisation Regulation then states that the European Securities and Markets Authority (“ESMA”) shall maintain on its official website a list of all securitisations, which the originators and sponsors would have notified to it as meeting the requirements laid down in the abovementioned articles. In this regard, ESMA adds the notified securitisations immediately to that list, and updates the list accordingly where a securitisation no longer meets such requirements.

To facilitate the effective and harmonised notifications to be reported to ESMA, a specific template is to be used in order for such reporting to be in a consistent format and with uniform standards. In this regard, ESMA, in close cooperation with the European Banking Authority (“EBA”) and the European Insurance and Occupational Pensions Authority (“EIOPA”) has issued implementing technical standards to establish the harmonised templates to be used when providing the required information, as abovementioned.

All interested stakeholders, in particular institutional investors and originators, sponsors, original lenders and securitisation special purpose entities, should note that ESMA has updated the list of synthetic securitisation notified to ESMA on its official website.

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