Confirmation on EU Securitization Disclosure Requirements09/04/2020The European Securities and Markets Authority has published a press release confirming that certain requirements under the Securitization Regulation will enter into force on September 23, 2020.
The following Technical Standards were published in the Official Journal of the European Union on September 3, 2020:
- Implementing Technical Standards providing templates for the provision of information in accordance with the STS notification requirements (Commission Implementing Regulation (EU) 2020/1227);
- Regulatory Technical Standards specifying the information to be provided in accordance with the STS notification requirements (Commission Delegated Regulation (EU) 2020/1226);
- ITS laying down the format of applications for registration as a securitization repository or for extension of a registration of a trade repository (Commission Implementing Regulation (EU) 2020/1228);
- RTS on securitization repository operational standards for data collection, aggregation, comparison, access and verification of completeness and consistency (Commission Delegated Regulation (EU) 2020/1229);
- RTS on the details of the application for registration of a securitization repository and the details of the simplified application for an extension of registration of a trade repository (Commission Delegated Regulation (EU) 2020/1230);
- ITS setting out the format and standardized templates for making available the information and details of a securitization by the originator, sponsor and securitization special purpose entity (Commission Implementing Regulation (EU) 2020/1225), known as the disclosure ITS; and
- RTS on the information and the details of a securitization to be made available by the originator, sponsor and SSPE (Commission Delegated Regulation (EU) 2020/1224), known as the disclosure RTS.
ESMA states that from September 23, 2020, the new disclosure template will need to be used to disclose any new information about a securitization. The temporary use of the "CRA 3" disclosure template should cease from that date. In addition, applications for registration as a securitization repository will open on that date.
View ESMA's press release.
View ESMA's webpage on the Securitization Regulation.
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