On 4 April 2025, ESMA had already given several companies provisional “green light” status as External Reviewers within the meaning of Articles 69 and 70 of the EuGB Regulation (see TSI kompakt of 4 April 2025). However, at that time the authorisation and registration procedures conducted by ESMA for these reviewers had not yet been
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12 March 2026
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12 March 2026
ESMA publishes feedback on the consultation on the UCITS Eligible Assets Directive – feedback on securitisations controversial
UCITS (Undertakings for Collective Investments in Transferable Securities) funds may invest in securitisation, subject to a concentration limit of 10%. As part of a consultation on the UCITS Eligible Assets Directive (see TSI kompakt of 15 April 2025), ESMA discussed the pros and cons of adjusting the concentration limit with market participants. Mixed feedback from
ESRB publishes status report on synthetic STS on-balance-sheet securitisations
On 5 May, the European Systemic Risk Board (ESRB) published a report on the impact of STS on-balance-sheet securitisation on financial stability in the EU. The analysis indicates that the market is growing, with an increasing number of banks using synthetic STS securitisations to transfer credit risks. The ESRB concludes that the market is currently
Green light for European Green Bonds: The first External Reviewers can get started
The European Green Bond Regulation (EuGB) has been in force since 21 December 2024. The standard mandates the review of relevant green bonds – including public ABS – by an independent External Reviewer supervised by ESMA. An External Reviewer conducts a pre- and post-issuance review as well as a review of impact reports.(see also TSI
ESMA publishes results of Disclosure Templates consultation
The ESMA has published the results of its consultation on the disclosure templates from the beginning of this year (see TSI kompakt from 22 March 2024). In particular, it evaluates the feedback received from the market with regard to the four proposed options for the way forward. Unsurprisingly, ESMA concludes that it will wait until
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