On 19 November 2021, ESMA updated its Questions and Answers ("Q&A") in relation to Regulation (EU) 2017/2402 of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation (the “Securitisation Regulation”).
In addition, on 13 October 2021, ESMA published its final report (the "Final Report") on the draft technical standards specifying content and format of the simple, transparent and standardised ("STS") notification for on-balance sheet securitisations under the Securitisation Regulation (synthetic securitisations).
Securitisation Regulation Q&A
In this latest update ESMA modified some of the existing Q&A regarding disclosure requirements and templates and also added new Q&A clarifying how to complete specific fields in specific scenarios.
Final Report for STS Synthetic Securitisation Notifications
The Final Report contains inter alia:
- the draft regulatory technical standards ("RTS") which specify the information that is required to be disclosed in STS notifications;
- the draft implementing technical standards ("ITS") which establishes the STS templates for synthetic securitisation to be used for notifying ESMA.
The Final Report has been submitted to the European Commission for endorsement. For the time being, originators may use the interim STS notification templates for notification of synthetic securitisations which are available on ESMA website.