[ESMA 33-128-563 Securitisation Q&A, Q&A 5.1.1.d]

Once there has been at least one securitisation repository registered by ESMA, then pursuant to the second subparagraph of Article 7(1) of the Securitisation Regulation, information on public securitisations shall be made available by means of a securitisation repository.

Where at least one securitisation repository has been registered by ESMA, and no securitisation repositories were registered before then, a reporting entity is not required to re-report the information to that repository that was made available by means of the website described above prior to the first registration of that repository.

Reporting entities are not required to re-report previously-reported information using the templates set out in the ITS on disclosure once those have been adopted by the Commission and begin to apply. The templates in the ITS on disclosure must be used starting from 23 September 2020, but do not have a retroactive effect on previously-reported information.

Nevertheless, it is emphasized that preparing previously-reported information and re-reporting it to a securitisation repository using the templates set out in the ITS on disclosure (after 23 September 2020) is expected to substantially facilitate investors’ and potential investors’ ability to thoroughly monitor and conduct due diligence on the securitisation transaction in question. At the minimum, transmitting previously-reported past information (not using the ITS on disclosure) to a securitisation repository—to the extent that the repository in question offers the facilities to host this information—would also substantially benefit investors and potential investors, as well as the other users of securitisation data set out in Article 17(1) of the Securitisation Regulation.