The UK and Europe have released a number of updated requirements for securitisations that, while not effecting material changes, are notable in their scope and number. Below, we give a brief guide to these changes and their...more
7/24/2023
/ Capital Markets ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
RTS ,
Securities Regulation ,
Securitization ,
Securitization Standards ,
Securitization Vehicles ,
UK
Background -
On 12 April 2022, the European Banking Authority (the “EBA”) announced the publication of its final draft Regulatory Technical Standards (“RTS”) specifying the requirements for originators, sponsors and...more
The European Securities and Markets Authority (ESMA) has published its Final Report (the Final Report) containing draft regulatory and implementing technical standards (RTS and ITS) on the provision of investment services and...more
I. Introduction -
The Securitisation Regulation applies to securitisations, the securities of which are issued (or where no securities are issued, the securitisation positions of which are created) on or after 1...more
This briefing reviews developments in European CMBS since the financial crisis and focuses on (1) 2011-15 European CMBS transactions (“2011-15 European CMBS”); (2) 2017-18 European CMBS (“2017-18 European CMBS”)...more
On 22 August 2018, the European Securities and Markets
Authority (“ESMA”) published its Final Report on the technical standards on disclosure requirements under the EU Securitisation Regulation (the “Final Report”)....more
8/29/2018
/ Collateralized Loan Obligations ,
Disclosure Requirements ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
Regulatory Oversight ,
Regulatory Requirements ,
RTS ,
Securitization Vehicles ,
Technical Standards ,
Transparency
On 31 July 2018, the European Banking Authority (“EBA”) published its final draft Regulatory Technical Standards on the risk retention requirements (the “draft Risk Retention RTS”) under the EU regulation intended to lay down...more
On 15 December 2017, the European Banking Authority (“EBA”) published a consultation paper (the “Consultation Paper”) containing draft Regulatory Technical Standards on the risk retention requirements (the “Risk Retention...more
On 26 October 2017, the European Parliament voted in plenary session to adopt the EU regulation intended to lay down common rules on securitisation and to create a European framework for “simple, transparent and standardised”...more
10/26/2017
/ Amended Regulation ,
Capital Requirements Regulation (CRR) ,
ESRB ,
EU ,
EU Transparency Directive ,
European Parliament ,
Institutional Investors ,
Risk Retention ,
RTS ,
Securitization ,
Special Purpose Entities
The aim of the EU Bank Recovery and Resolution Directive (the “BRRD”) is to establish a framework for the recovery and resolution of EU credit institutions and significant investment firms and to equip EU national authorities...more
On 30 September 2015, the European Commission (the “Commission”) published a proposal for a regulation (the “Proposed Regulation”)1 intended to harmonise existing EU laws applying to securitisations (including proposed...more
10/2/2015
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset-Based Lending ,
Banking Sector ,
Banks ,
Capital Markets ,
Capital Raising ,
Compliance ,
Disclosure Requirements ,
Due Diligence ,
EIOPA ,
EU ,
European Banking Authority (EBA) ,
European Central Bank ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Institutions ,
Funding ,
Insurance Industry ,
Investors ,
Originators ,
Risk Retention ,
RTS ,
Securitization ,
Small and Medium-Sized Enterprises (SMEs) ,
Small Credit Institutions ,
Solvency II ,
UCITS