The EBA has published two consultation papers on draft guidelines on the criteria for securitisations to be eligible as simple, transparent and standardised (STS) under the Securitisation Regulation (Regulation (EU) 2017/2402). The guidelines are intended to provide a consistent interpretation of the STS criteria for originators, sponsors, investors and competent authorities.
One set of guidelines have been developed for asset-backed commercial paper (ABCP) securitisation and a second set for non-ABCP securitisation. Both sets seek to clarify and ensure common understanding of all the STS criteria, and the EBA intends the guidelines to apply on a cross-sectoral basis throughout the EU.
Comments on the consultations are due by 20 July 2018.
Guidelines for asset-backed commercial paper (ABCP) securitisation
Guidelines for non-ABCP securitisation