ESAS PUBLISH Q&AS ON CROSS-SECTORAL ASPECTS OF THE SECURITISATION REGULATION
The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) published today Questions and Answers (Q&As) on cross-sectoral aspects of the Securitisation Regulation.
The Q&As clarify topics in relation to the application of the Securitisation Regulation to help market participants comply with their obligations and to foster cross-sectoral consistency in the implementation of the securitisation requirements in the EU.
In particular, the Q&As clarify:
- the content and the format of the information of a securitisation transaction that should be disclosed by the originator, sponsor and SSPE;
- the transaction documentation of a Simple, Transparent and Standardised (STS) securitisation that should be made publicly available to facilitate investors’ compliance with its due diligence requirements; and
- the type of STS certification services that can be provided by Third Parties Verifiers to the securitisation parties.
The purpose of the Q&As is to foster common supervisory approaches and practices in the application of the Securitisation Regulation and to promote cross-sectoral consistency at EU level, as well as to help market participants comply with their obligations.
The ESAs will continue to develop these Q&As on cross-sectoral aspects of the Securitisation Regulation and update them where required.