ESMA_QA_1334
27/05/2019
View PDF View Excel
Subject Matter
Definition of ‘default’, where not specified
For fields where the definition of default is not specified (e.g. IVSS31-IVSS37, SESL19-SESL21), how is default defined? Is there a standard definition that should be used?
ESMA Answer
27-05-2019

[ESMA 33-128-563 Securitisation Q&A, Q&A 5.2.16]

The Securitisation Regulation does not provide a definition of ‘default’. Reporting entities should use the most appropriate regulatory or supervisory definition applicable to them and/or to the underlying exposure.

Status: Answer Published

Additional Information

Level 1 Regulation
Securitisation Regulation (EU) 2017/2402
Topic
Securitisation Disclosure Templates