ESMA_QA_321
03/08/2021
Subject Matter
Annex XII - REGULATION (EU) 2020/1224 - IVSR7 - Status
Original question
'There are cases in which the breach becomes an active violation only if the Noteholders, who received a notification of violation, send a written notice to activate the trigger (notice). In order to define whether a breach becames an active violation (therefore field IVSR7 = Y), is it correct to consider the event itself no an active violation since the Noteholder sends a written notice?
Status: Answer Published
Additional Information
Level 1 Regulation
Securitisation Regulation (EU) 2017/2402
Level 2 Regulation
ITS on the format and standardised templates for making available the information and details of a securitisation by the originator, sponsor and SSPE and associated ANNEXES
Level 3 Regulation
Guidelines on securitisation repository data completeness and consistency thresholds
Additional Legal Reference
COMMISSION DELEGATED REGULATION (EU) 2020/1224 of 16 October 2019 - Article 3 (1) - Information on investor reports - Annex XII, — INVESTOR REPORT INFORMATION NON-ASSET BACKED COMMERCIAL PAPER SECURITISATION
Topic
Securitisation Disclosure Templates