Shearman & Sterling LLP | Financial Regulatory Developments Focus | European Banking Authority Proposes Revised Implementing Technical Standards for Reporting of Securitization Information
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  • European Banking Authority Proposes Revised Implementing Technical Standards for Reporting of Securitization Information
    08/28/2018
    The European Banking Authority has published a consultation paper setting out proposed amendments to existing Implementing Technical Standards on supervisory reporting, to align the reporting of securitizations with the new EU securitization framework. The new securitization framework took effect in January 2018 and comprises: (i) the Securitization Regulation (also known as the STS Regulation), which lays down common due diligence for institutional investors, risk retention and transparency measures and establishes a category of simple, transparent and standardized securitization in the EU; and (ii) a Regulation making targeted amendments to the Capital Requirements Regulation to provide for the capital treatment of STS securitizations and certain SME synthetic securitizations, including measures to reduce reliance on external credit ratings.

    The EBA is proposing amendments to the ITS to accommodate the new securitization framework and to make related amendments to reporting templates to reflect the transitional provisions for outstanding securitization positions.

    Responses to the consultation are invited by November 27, 2018, using the "send your comments" button on the consultation webpage. The EBA expects to submit the final draft of the revised ITS to the Commission in April or May 2019. The implementation date for the revised ITS is intended to be aligned with the end of the transition period of the new securitization framework. The first reference date for reporting in line with the revised ITS is expected to be March 31, 2020, with an implementation period of approximately one year.

    View the consultation paper.

    View the consultation webpage.

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