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ECB consults on its draft Guide on the notification of securitisation transactions

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  • ECB launches consultation on its draft Guide on the notification of securitisation transactions
  • Non-binding Guide specifies notification expectations for directly supervised banks
  • Consultation ends on 5 January 2022

The European Central Bank (ECB) is today launching a public consultation on its draft Guide on the notification of securitisation transactions. This follows the ECB’s announcement of its decision in May 2021 to ensure that directly supervised banks comply with the requirements for risk retention, transparency and resecuritisation for all securitisations, which are set out under Articles 6, 7 and 8 of the EU Securitisation Regulation.

This non-binding Guide clarifies the information that the ECB expects directly supervised banks acting as originators or sponsors of securitisation transactions to provide. The requirements of the Securitisation Regulation cover all securitisation transactions, from public to private, traditional, synthetic and asset-backed commercial paper transactions, irrespective of whether or not they are structured to achieve significant risk transfer.

The ECB expects banks to follow the Guide for all securitisation transactions issued after 1 April 2022. The Guide will be updated when needed to reflect relevant developments in the regulation and supervision of securitisations.

The outcome of the consultation, which starts today and runs until 5 January 2022, will be taken into account during the finalisation of the Guide.

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