The European Commission is currently focusing on the implementation of the Savings and Investment Union (SIU), see TSI kompakt from 20 March. Against this background, it published a comprehensive consultation on 15 April, which asks the market about hurdles to the integration of European capital markets. The consultation is aimed in particular at market participants
EU Commission
European Commission publishes strategy on Savings and Investments Union – Securitisation continues to play a role
On 19 March, the European Commission published a strategy paper on the new Savings and Investments Union (SIU). The SIU follows on from the European Capital Markets Union and builds on it accordingly. The aim of the SIU is to better connect savings with investments across European borders. To this end, households are to be
ESMA consults on disclosure templates
On 21 December 2023, ESMA published the long-awaited consultation on the disclosure templates. The origin of this consultation lies in the report on the functioning of the Securitisation Regulation from October 2022, in which the EU Commission invited ESMA to revise the disclosure templates (see TSI kompakt of 10 October 2022). Following initial bilateral discussions with
RTS on Risk Retention – EU Commission publishes Final Draft
On 7 July 2023, the European Commission adopted the Final Draft of the Risk Retention RTS and published it as a Commission paper. The original Final Draft was drafted by the EBA and published in April 2022 (see TSI kompakt from 12 April 2022). This means that the EU Commission has taken considerably longer than the
Call for Advice on the Securitisation Prudential Framework – Response of the Joint Committee published
The Joint Committee (JC) of the ESAs today published the long-awaited response to the European Commission’s Call for Advice (CfA) on securitisation prudential framework (see news article of 18 October 2021). In the CfA, the EU Commission asked for advice on improving the regulatory conditions for securitisation. The core of the CfA was the review of




