[ESMA 33-128-563 Securitisation Q&A, Q&A 5.15.3]

This field should be completed as per the most common method employed in the CLO purchasing arrangement for transferring the assets. It is noted that field SESS7 may be reported as ‘Yes’ where the assignment or transfer segregates the underlying exposures from the seller, its creditors and liquidators, including in the event of the seller’s insolvency, has the same legal effect as that achieved by means of true sale.