Two regulations amending the EU Securitisation Regulation and the Capital Requirements Regulation (the “CRR“) respectively have now come into force. Regulation (EU) 2021/557 of the European Parliament and of the Council (the “SR Amendment Regulation“) and Regulation (EU) 2021/558 of the European Parliament and of the Council (the “CRR Amendment
EU Securitisation Regulation – Status of Secondary Legislation and Guidelines
The Securitisation Regulation has now been in effect for over fifteen months. However, the market is still awaiting the finalisation and adoption of much of the delegated legislation which is required in order to interpret and ensure compliance with the Securitisation Regulation. In this Legal Update, we consider the current status of the various pieces
Legal Update: Regulatory technical standards in relation to transparency adopted by the European Commission
The European Commission (the “Commission”) has now adopted and published the regulatory technical standards (the “RTS”) in relation to the transparency requirements under the EU Securitisation Regulation (the “Securitisation Regulation”).
The Securitisation Regulation has been applicable since 1 January 2019 to all securitisations (as defined therein) other than securitisations existing prior to that date to
European Commission Publishes Draft RTS for EU Securitisation Regulation’s Transparency Requirements
The European Commission (the “Commission”) has now adopted and published the draft regulatory technical standards (the “Draft RTS”) in relation to the transparency requirements under the EU Securitisation Regulation (the “Securitisation Regulation”). The Draft RTS are based on the draft regulatory technical standards published by the European Securities and Markets Authority on 31 January 2019 (the “ESMA Draft RTS”) and set out the information to be provided with respect to the underlying exposures in a securitisation and in the investor reports. The related implementing technical standards (the “ITS”), which set out the reporting templates, have not yet been adopted.
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