TSI kompakt

Regulatory Update

15. July 2026

ECON Takes a Position on the EU Inc.

Earlier this spring, the European Commission presented a proposal for a “EU Inc.”, a single corporate form applicable across the entire European Union – see TSIkompakt from 18 March 2026. The Committee on Economic and Monetary Affairs (ECON) of the European Parliament has now expressed its support for the initiative in an open letter. ECON views the proposal as an

Regulatory Update

3. July 2026

The Green Omnibus Imposes Additional ESG Requirements on the Securitisation Industry

On 3 July 2026, the European Commission submitted its draft Delegated Regulation (EU) 2026/5010 to the co-legislators, i.e. the European Council and the European Parliament. This regulation is expected to make the application of the new European Sustainability Reporting Standards (ESRS 2.0) mandatory from 2027 for companies and financial institutions within the scope of the

Regulatory Update

30. June 2026

European harmonisation of Member States’ insolvency law: opportunities for cross-border transactions, risks in the realisation of collateral?

“It’s complicated” – this phrase certainly applies to the structuring of securitisation transactions in general, and even more so to cross-border deals. Here, EU Directive (EU) 2026/799 provides a solution. Without directly addressing securitisation – and independently of the ongoing revision of the European securitisation framework – the EU legislator has turned its attention to

Comments and statements

22. June 2026

ECJ ruling comes at an inopportune time – market practice regarding the treatment of VAT on servicing in ‘true sale’ securitisations called into question

ECJ narrows scope of tax exemption The Court of Justice of the European Union has clearly narrowed the scope of the tax exemption for the servicing of credit claims following a transfer of claims. If an originator continues to service transferred loans in return for remuneration, the exemption under Article 135(1)(b) to (d) of the

Regulatory Update

8. June 2026

Luxembourg advances the modernisation of its financial centre

Luxembourg overtakes Brussels in modernising its securitisation framework at its domestic financial centre. A modern financial centre must fundamentally adapt to changing conditions. In an environment of increasingly restrictive banking regulation and higher capital costs, asset-backed and more capital-structure-driven financing is gaining importance. To accommodate these more complex transaction structures, Luxembourg aims to further modernise