Securitization

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Draft Standards on STS Securitisation Notifications

ESMA draft standards regarding notifications applicable to simple, transparent and standardized (STS) securitization

European Securities and Markets Authority draft regulatory and implementing contain detailed arrangements to promote the new European regulatory framework for securitizations. The standards specify the format that the originators and sponsors of securitization products are required to notify to ESMA for securitization transactions that meet the STS requirements.

Publisher: Regional Standard-Setting Bodies Release date: Jul 2018

Type: Standard

Parent: Securitisation Regulation

Peer: Draft Standards on Disclosure Requirements, Operational Standards and Access Conditions Under the Securitisation Regulation, Draft Technical Standards on Third-Party Firms Providing STS Verification Services Under the Securitisation Regulation

Topics: Securitization, Transparency and disclosure

Sectors: Banking, Insurance, Securities

Capital Treatment for Short-Term "Simple, Transparent and Comparable" Securitisations

BCBS standard for applying preferential regulatory capital treatment of STC short-term securitizations

Basel Committee on Banking Supervision standard sets out additional guidance and requirements for applying preferential regulatory capital treatment for banks acting as investors in, or as sponsors of, simple, transparent and comparable (STC) short-term securitizations, typically in asset-backed commercial paper (ABCP) structures. Additional guidance and requirements include that: i) investors have access to key monthly information on performance and key characteristics of the ABCP structure; ii) redemption risk of the underlying assets is addressed from the sponsor's perspective; and iii) transactions funded by the conduit have an enforceable legal structure and that relevant information is disclosed by the sponsor to investors.

Publisher: Global Standard-Setting Bodies Release date: May 2018

Type: Standard

Parent: Revisions to the Basel Securitisation Framework

Peer: Criteria for Identifying Simple, Transparent and Comparable Securitisations, Criteria for Identifying Short-Term Simple, Transparent and Comparable Securitisations

Topics: Securitization, Credit risk, Capital adequacy

Sectors: Banking

Criteria for Identifying Short-Term Simple, Transparent and Comparable Securitisations

BCBS and IOSCO sound practice on criteria specifically for asset-backed commercial paper conduits

Basel Committee on Banking Supervision and International Organization of Securities Commissions sound practice on criteria for identifying "simple, transparent and comparable" (STC) securitizations that take account of the characteristics of short-term asset-backed commercial paper (ABCP) conduits, such as: i) short maturity of the commercial paper issued; ii) different forms of programme structures; and iii) existence of multiple forms of liquidity and credit support facilities.

Publisher: Global Standard-Setting Bodies Release date: May 2018

Type: Sound Practice

Parent: Revisions to the Basel Securitisation Framework

Peer: Criteria for Identifying Simple, Transparent and Comparable Securitisations, Capital Treatment for Short-Term "Simple, Transparent and Comparable" Securitisations

Topics: Securitization, Transparency and disclosure

Sectors: Banking, Securities

Draft Standards on Disclosure Requirements, Operational Standards and Access Conditions Under the Securitisation Regulation

ESMA draft technical standards to comply with EU Securitisation Regulation

European Securities and Markets Authority consultation on draft standards for: i) securitization disclosure requirements; and ii) operational standards for collecting, verifying, and accessing securitization data. Proposed disclosure requirements for the exposures underlying securitizations cover the major underlying exposure types: residential mortgages, commercial mortgages, auto loans/leases, consumer loans, corporate loans (including SME loans), credit card receivables, and leases.

Publisher: Regional Standard-Setting Bodies Release date: Apr 2018

Type: Consultative, discussion and issues paper

Parent: Securitisation Regulation

Peer: Draft Standards on STS Securitisation Notifications, Draft Technical Standards on Third-Party Firms Providing STS Verification Services Under the Securitisation Regulation

Topics: Securitization

Sectors: Banking, Insurance, Securities

Deadline for comments: Apr 2018

Prudential Standard on Securitisation

APRA standard on management of securitization risks

Australian Prudential Regulation Authority standard aims to ensure than banks adopt prudent practices to manage risks associated with securitization and to ensure sufficient regulatory capital is held against associated credit risk. Key requirements are that an authorized deposit-taking institution must: i) have a risk management framework covering its involvement in a securitization; ii) ensure there is clear and prominent disclosure of nature and limitations of its obligations arising from its involvement in a securitization; iii) not provide implicit support to a securitization; and iv) calculate regulatory capital for credit risk against its securitization exposures.

Publisher: National Regulators Release date: Jan 2018 Country: Australia

Type: Standard

Topics: Securitization, Risk management, Transparency and disclosure, Capital adequacy, Credit risk

Sectors: Banking

Prudential Practice Guide on Securitisation

APRA standard on management of securitization risks

Australian Prudential Regulation Authority guidance on sound practice in relation to the involvement of authorized deposit-taking institutions (ADIs) in securitization. Aims to ensure that banks adopt prudent practices to manage risks associated with securitization and to ensure sufficient regulatory capital is held against associated credit risk. Key requirements are that banks must: i) have a risk management framework covering their involvement in a securitization; ii) ensure there is clear and prominent disclosure of nature and limitations of obligations arising from involvement in a securitization; iii) not provide implicit support to a securitization; and iv) calculate regulatory capital for credit risk against securitization exposures.

Publisher: National Regulators Release date: Jan 2018 Country: Australia

Type: Sound Practice

Topics: Securitization, Risk management, Transparency and disclosure, Capital adequacy, Credit risk

Sectors: Banking

Draft Technical Standards on Third-Party Firms Providing STS Verification Services Under the Securitisation Regulation

ESMA draft technical standards to comply with EU Securitisation Regulation

European Securities and Markets Authority draft standard sets out the content of applications to relevant supervisory authorities by third-party entities seeking to be authorized as providers of simple, transparent and standardized (STS) verification services.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2017

Type: Consultative, discussion and issues paper

Parent: Securitisation Regulation

Peer: Draft Standards on STS Securitisation Notifications, Draft Standards on Disclosure Requirements, Operational Standards and Access Conditions Under the Securitisation Regulation

Topics: Securitization

Sectors: Banking, Insurance, Securities

Deadline for comments: Mar 2018

Securitisation Regulation

New regulatory framework fro EU securitization transactions

European Commission regulation improving the legal framework for securitizations and promoting the development of a simple, transparent and standardized securitization ((STS) market in the European Union. Establishes general framework for securitization and creates a specific framework for STS securitizations distinct from that for highly complex, opaque and risky securitizations. Specifies criteria that a transaction must satisfy in order to qualify as an STS securitization. Regulation takes effect on 1 January 2019.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2017

Type: Law, Regulation and Policy

Peer: Draft Standards on STS Securitisation Notifications, Draft Standards on Disclosure Requirements, Operational Standards and Access Conditions Under the Securitisation Regulation, Draft Technical Standards on Third-Party Firms Providing STS Verification Services Under the Securitisation Regulation

Topics: Securitization

Sectors: Banking, Insurance, Securities

Implementation of G20/FSB Financial Reforms in Other Areas

FSB 2017 survey of implementation of the G20/FSB post-crisis recommendations

Financial Stability Board summary of status of implementation of G20/FSB recommendations covered by 2017 FSB Implementation Monitoring Network survey on the following areas: i) hedge funds; ii) securitization; iii) enhancing supervision; iv) building and implementing macroprudential frameworks and tools; v) improving oversight of credit rating agencies; vi) enhancing and aligning accounting standards; vii) enhancing risk management; viii) strengthening deposit insurance; ix) safeguarding integrity and efficiency of financial markets; and x) enhancing financial consumer protection.

Publisher: Global Standard-Setting Bodies Release date: Nov 2017

Type: Implementation

Peer: Implementation of G20/FSB Recommendations Related to Securities Markets , Implementation of Principal G20 Financial Regulatory Reforms

Topics: Securitization, Macroprudential, Accounting, actuarial and auditing , Deposit insurance, Consumer education and protection, Shadow banking

Sectors: Banking, Securities

Implementation of G20/FSB Recommendations Related to Securities Markets

IOSCO 2017 survey of implementation of the G20/FSB post-crisis recommendations aimed at strengthening securities markets

International Organization of Securities Commissions report on results of survey of jurisdictions' implementation of G20/Financial Stability Board recommendations related to securities markets. Addresses: i) hedge funds; ii) structured products and securitization; iii) oversight of credit rating agencies; iv) measures to safeguard the integrity and efficiency of markets; and v) commodity derivative markets.

Publisher: Global Standard-Setting Bodies Release date: Nov 2017

Type: Implementation

Peer: Implementation of Principal G20 Financial Regulatory Reforms , Implementation of G20/FSB Financial Reforms in Other Areas

Topics: Transparency and disclosure, Derivatives, Securitization, Shadow banking

Sectors: Securities

Display # Page 1 of 2 Total: 18

Resources

382 records

Draft Standards on STS Securitisation Notifications

Capital Treatment for Short-Term "Simple, Transparent and Comparable" Securitisations

Criteria for Identifying Short-Term Simple, Transparent and Comparable Securitisations

Draft Standards on Disclosure Requirements, Operational Standards and Access Conditions Under the Securitisation Regulation

Prudential Standard on Securitisation

Prudential Practice Guide on Securitisation

Draft Technical Standards on Third-Party Firms Providing STS Verification Services Under the Securitisation Regulation

Securitisation Regulation

Implementation of G20/FSB Financial Reforms in Other Areas

Implementation of G20/FSB Recommendations Related to Securities Markets

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