Summary
This regulation creates a new European framework for securitisation, introducing an 'STS' label for simple, transparent, and standardised products to improve market stability. 10 28.12.2017
Other
finance
economy
administrative law
information technology and data processing
Key points
- Introduction of a specialized framework for 'Simple, Transparent, and Standardised' (STS) securitisation products.
- Mandatory risk retention requirements where originators must keep a significant economic interest in the securitised assets.
- Strict transparency obligations requiring regular disclosure of data regarding the underlying loans and cash flows to investors.
- Requirements for asset homogeneity and the prohibition of active portfolio management to maintain simplicity.
Documents (PDFs)
REPORT on the proposal for a regulation of the European Parliament and of the Council laying down common rules on securitisation and creating a European framework for simple, transparent and standardised securitisation and amending Directives 2009/65/EC, 2009/138/EC, 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012
Framework for simple, transparent and standardised securitisation ***I
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