Firms will need to update their internal procedures and ensure they are ready to comply with the new requirements ahead of 1 November 2024.
HM Treasury (HMT), the Financial Conduct Authority (FCA), and the Prudential...more
The start of 2024 heralds the rollout of a new suite of rules for securitisation in the UK, which once adopted, will replace the existing on-shored UK Securitisation Regulation (the “UKSR”).
Originally published in...more
2/14/2024
/ AIFM ,
Amended Regulation ,
Buy-Side Trading ,
Due Diligence ,
EU ,
Financial Conduct Authority (FCA) ,
Institutional Investors ,
Internal Controls ,
Market Participants ,
New Regulations ,
Onshoring ,
Policies and Procedures ,
Prudential Regulation Authority (PRA) ,
Regulation Technical Standards (RTS) ,
Regulatory Standards ,
Securitization ,
UK
The new securitisation framework will combine three sets of overlapping rules, in an effort to repeal and replace retained EU law in the UK.
The missing piece of the puzzle to the UK’s new securitisation framework became...more
8/17/2023
/ AIFM ,
Banking Sector ,
Capital Requirements ,
Consultation ,
EU ,
Financial Conduct Authority (FCA) ,
FSMA ,
OECD ,
Proposed Rules ,
Prudential Regulation Authority (PRA) ,
Risk Retention ,
Securitization ,
Securitization Vehicles ,
Special Purpose Entities ,
Transparency ,
UK
Recent changes to the Securitisation Regulation allow eligible servicers in the EU to retain the 5% net economic interest in traditional securitisations of non-performing exposures (NPEs). The European Banking Authority (EBA)...more
The proposal is part of an effort to aid economic recovery and enhance the capacity of banks to lend to corporates and SMEs.
The European Commission’s proposal to amend the Securitisation Regulation1 and the Capital...more
The EBA’s Final Report on the feasibility of a framework for Simple, Transparent and Standardised (STS) Synthetic Securitisations is a cautious step forward.
Key Points:
..The EBA has made a proposal to extend the STS...more
While lessons learned from previous crises suggest that well-designed structures are resilient under stressed circumstances, the COVID-19 crisis presents new challenges for European ABS.
Governments across the globe...more
Within a fortnight of each other, the STS Notification RTS was published in final form and the homogeneity RTS for STS securitisations will enter into force. This alert highlights how STS securitisations will be...more
Originators, sponsors, and issuers should prepare now for the new securitisation disclosure and reporting rules.
Key Points:
..Disclosure and reporting standards under the EU Securitisation Regulation are finalised but...more
In Europe, the market for loan portfolio sales continues to thrive due to post-financial crisis bank deleveraging and a renewed focus on regulatory capital efficiency and return on capital. This "In Practice" article...more