Securitisation repositories
Securitisation repositories
Securitisation repositories (SRs) under Regulation (EU) 2017/2402 (The Securitisation Regulation) centrally collect and maintain the records of securitisation instruments and underlying assets.
SRs play a central role in enhancing the transparency of securitisation markets and thus of the financial system.
Under the Securitisation Regulation, ESMA has direct responsibilities regarding the registration and supervision of SRs (see chapter 3 of Regulation (EU) 2017/2402).
REGISTRATION OF SECURITISATION REPOSITORIES
In November 2018, ESMA published its Final Report on securitisation repository technical standards and Final Technical Advice on securitisation repository registration and supervisory fees - please see ESMA’s associated news item and statement for further background.
With the entry into force of the technical standards relating to the registration of securitisation repositories (Delegated Regulation (EU) 2020/1230 and Implementing Regulation (EU) 2020/1228) on 23 September 2020, from this date ESMA started to receive applications for registration from SRs. The duration of the application process is influenced by a number of factors, in particular the level of completeness of the application file submitted by the applicant(s).
If you are interested in applying for a securitisation repository registration, please refer to this guidance.
If you would like to receive further information on the registration process, please contact ESMA’s Ratings, Indices, and Securitisation Department at SR-registration@esma.europa.eu.
Please note that ESMA may decide to reopen the completeness phase described in Article 10 of Regulation (EU) No 2017/2402 on the basis of the applicant’s submission of new information during the compliance phase referred to in Article 12 of that Regulation, provided that ESMA considers it appropriate and receives the written and unambiguous consent of the applicant.
On 25 June 2021 ESMA published a press release on the registration of the first two SRs with ESMA. The registration decisions will take effect on 30 June 2021. As of that date, a reporting entity, i.e. the originator, sponsor or securitisation special purpose entity (SSPE), of a securitisation must make its reports available through one of the registered SRs.
In accordance with Article 13(3) of the Securitisation Regulation, ESMA publishes a list of registered SRs, which is updated within five working days following the adoption of a registration decision. You can find below the list of ESMA registered SRs:
CHANNELS OF COMMUNICATION FOR REPORTING DATA QUALITY AND ACCESSIBILITY ISSUES
As part of ESMAs direct supervision of SRs, ESMA’s objective is to ensure that the securitisation data collected and maintained by SRs is of high quality and that SRs provide direct and immediate access free of charge to the entities listed in Article 17 of the Securitisation Regulation.
Feedback and queries from reporting entities and users of securitisation data should be communicated via the following channels:
- For queries relating to the Securitisation Regulation (e.g. technical questions relating to the application of the Regulation, ESMA Guidelines or opinions, queries related to the interpretation of a specific reporting field or reporting requirement), please consult the resources available on ESMA’s dedicated webpage including in particular ESMA’s Q&A Document on Securitisation Topics. If you do not find the answer you are looking for within these resources, please submit your question through ESMA’s Q&A tool available here.
- For specific queries relating to accessibility issues of SR websites and access to disclosure information, as well as queries relating to data quality issues of the disclosure templates submitted to SRs (e.g. errors or incorrect reporting of the data, incomplete, inaccurate and inconsistent data), please contact the relevant SR. Should your queries submitted to an SR not be resolved or not resolved in a timely manner and you wish to provide feedback to ESMA or to make a complaint about an SR to ESMA, please complete this form and e-mail the form to the following e-mail address: securitisation@esma.europa.eu. In the subject of your e-mail, please state “Complaint about securitisation repository”. For further information about ESMA’s handling of complaints please visit the dedicated part of ESMA’s website: https://www.esma.europa.eu/about-esma/esma-in-short/complaints. If you wish to remain anonymous, please indicate this to ESMA.
- If you are an employee or a former employee of a securitisation repository and wish to submit a report relating to infringements of securitisation repositories, please visit the dedicated part of ESMA’s website: https://www.esma.europa.eu/whistleblowers-corner.
TECHNICAL STANDARDS
On 3 September 2020, the securitisation repository technical standards relating to the registration and operational standards of securitisation repositories were published in the Official Journal of the European Union. The technical standards entered into force on 23 September 2020.
On 20 November 2020, the Delegated Regulation (EU) 2020/1732 on ESMA’s fees to be charged to Securitisation Repositories was published in the Official Journal of the European Union and entered into force on 10 December 2020.
To access further information on other technical standards related to the Securitisation Regulation, please see also the Securitisation policy activities page of ESMA’s website.