The European Banking Authority (the “EBA”) has recently published its report on the feasibility of a framework for simple, transparent and standardised (“STS”) synthetic securitisations (the “EBA Report”). The EBA Report follows a discussion paper published by the EBA on 24 September 2019 (the “EBA Discussion Paper”).

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

Navigating the European Rules and Regulations.

Synthetic securitization has had a rocky ride in Europe.  2004-2005 was the high watermark.  The financial crisis almost killed off the market, before a gradual recovery began. In 2018, there were 49 European synthetic securitization deals, reaching a post-crisis record of EUR 105 billion.


Continue Reading Capital Relief Trades: Structuring Considerations for Synthetic Securitizations (Part three of a three part series providing a U.S. and U.K perspective)

The European Banking Authority (the “EBA”) has recently launched a public consultation on its proposals to create a simple, transparent and standardised (“STS”) framework for synthetic securitisations, as set out in its Draft Report on STS Framework for Synthetic Securitisation published on 24 September 2019 (the “Discussion Paper”), which can be found here.  While