On 25 March, the EU Parliament adopted draft legislation on STS for synthetic and NPL securitisations under the Capital Market Recovery Package (CMRP). Only a few days later and before Easter, the pending approval of the EU ministers in the Council took place and the publication in the Official Journal took place with today’s date.
STS
Legislative proposals (“Quick Fixes”) on STS for synthetic securitisations and NPLs confirmed by EU Council
On 16 December 2020, the legislative proposals of the Capital Market Recovery Package, also known as “quick fixes”, were approved by the EU Council and have thus successfully passed the trilogue procedure. In addition to amendments to the MiFID II Directive and adjustments to the Prospectus Directive, the package includes in particular the extension of