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Securitisation Regulation: final draft of technical standards

25/09/2018

On 16 July 2018, The European Securities and Markets Authority (ESMA) has issued a first set of technical standards under the Securitisation Regulation (SR) containing both draft regulatory and implementing standards (RTS/ITS).

On 16 July 2018, The European Securities and Markets Authority (ESMA) has issued a first set of technical standards under the Securitisation Regulation (SR) containing both draft regulatory and implementing standards (RTS/ITS).These technical standards contain detailed arrangements to implement the new European regulatory framework for securitisations, which is intended to promote simple, transparent and standardised (STS) securitisations. This follows on from a public consultation on both draft RTS and ITS, which closed on 19 March 2018. For reference, the STS Securitisation Regulation states originators and sponsors party to a qualifying transaction must notify ESMA when a securitisation meets the STS requirements. These final ITS and RTS specify the templates for notification in this regard. ESMA has submitted for endorsement its final draft RTS/ITS to the European Commission.

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