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Publication of two regulations on securitisation

18/01/2018

On 28 December 2017, two regulations were published in the Official Journal of the European Union which are intended to facilitate development of the securitisation market, offset risks and ensure the stability of the financial system.

On 28 December 2017, two regulations were published in the Official Journal of the European Union which are intended to facilitate development of the securitisation market, offset risks and ensure the stability of the financial system. The regulation (EU) 2017/2402 of 12 December 2017(1) establishes a general framework for securitisation and prohibits the re-securitisation. The previous rules were spread over three directives and two regulations. It also establishes a specific framework for simple, transparent and standardised securitisations (STS), by defining the requirements that the securitisation transaction must fulfil in order to be qualified as such and the obligations stemming from such a qualification. The second Regulation (EU) 2017/2401 2) relates to the prudential requirements applicable to credit institutions and investment firms, and sets the requirements of own funds of these establishments involved as “instigators, sponsors or investment in securitisation transactions”. In particular, it aims to harmonise the calculation methods for all institutions.

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