ESMA has updated the Question & Answers on the Securitisation Regulation (SECR) on 13 July 2023. In the Q&A, ESMA answers questions from market participants on the SECR. These are mainly detailed questions on the practical implementation of the regulatory provisions. The aim of the Q&A is to ensure a uniform application of the SECR requirements in the day-to-day business.
Updates mainly regarding Disclosure Requirements & Templates
ESMA’s Q&A is divided into the sections Securitisation Repositories, STS Notifications and Disclosure Requirements and Templates. The disclosure section takes up most of the Q&A. This section is thus further subdivided into the subsections General Questions, Questions related to a group of fields, Questions related to individual fields and one subsection per Annex. The following table shows how many questions have been modified or added per section:
|
Section |
Modified |
New |
|
Securitisation Repositories |
– |
– |
|
STS Notifications |
– |
– |
|
Disclosure Requirements and Templates: |
||
|
General Questions |
1 |
3 |
|
Questions related to a group of fields |
– |
– |
|
Questions related to individual fields |
1 |
– |
|
Annex 2 – Residential Real Estate |
1 |
1 |
|
Annex 3 – Commercial Real Estate |
1 |
3 |
|
Annex 4 – Corporate |
– |
1 |
|
Annex 5 – Automobile |
– |
– |
|
Annex 7 – Credit Cards |
– |
– |
|
Annex 8 – Leasing |
– |
1 |
|
Annex 9 – Esoteric |
– |
2 |
|
Annex 10 – Non-Performing Exposures |
– |
– |
|
Annex 11 – ABCP |
– |
– |
|
Annex 12 & 13 – Investor Reports |
1 |
1 |
|
Annex 14 & 15 – Inside Information or Significant Event Information |
– |
– |
ESMA updates the Question & Answers from time to time. The latest update was on 19 November 2021.
To the full document ESMA Q&A on Securitisation Regulation