Securitisation and Regulation News

Authorisation as securitisation repository granted by ESMA

On 25 June 2021, the European Securities and Markets Authority (ESMA) granted authorisation to the European DataWarehouse (EDW) and Secrep B.V. as securitisation registries. This closes another important gap to the finalisation of the EU Securitisation Regulation. Issuers of securitisations can now provide loan level data in accordance with Art. 7 of the Securitisation Regulation or are even obliged to do so under certain conditions.

Effects on the European securitisation market

Transparency is a valuable asset for a functioning securitisation market and the provision of loan level data goes back to a requirement of the European Central Bank (ECB) from 2013. Initiated by the ECB and implemented by leading market participants with the establishment of the European DataWarehouse, the EDW has contributed significantly to the stable and sustainable development of the securitisation market in Europe. Issuers of securitisations can efficiently upload data in standardised templates to the EDW's platform and the EDW's experience from more than 1,600 transactions supports the important quality assurance. In addition, investors, risk managers and rating agencies receive an important source of data for their assessments, analyses and investment decisions. 

To the EDW press release


Announcement ECB on Loan Level Data as of 1 October 2021

In line with its authorisation as a securitisation repository, the ECB today implemented the previously announced rule that, with effect from 1 October 2021, it will only accept loan level data in accordance with the new ESMA templates as a prerequisite for the recognition of ECB eligibility of securitisations . These requirements must be met at all times for ECB eligibility, even if there is no obligation to do so under the IR. Only for transactions issued before 1 January 2019 there is a three-year transition period until 30 September 2024.

Further information on the topic of loan level data