“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
Transparency requirements
Academic View – Uneven Regulatory Playing Field in Securitisations
The research paper by Thomas Papadogiannis Varouchakis critically assesses the European securitisation market, particularly the effects of regulatory discrepancies that have impeded its recovery post-Global Financial Crisis (GFC). The key findings and recommendations from the paper highlight the challenges and propose solutions to revitalize this market, which is crucial for financial diversification and stability in
Request for Guidance to the EU Commission on ABS Investments in Third Countries
Under the leadership of AFME and Clifford Chance, several European associations, including TSI, have submitted a request for guidance to the European Commission regarding the interpretation of Article 5(1)(e) of the Securitisation Regulation (SECR). The background to the request is the interpretation of the above-mentioned article expressed in the EU Commission’s report under Article 46
ECB Consultation for the Reporting of Securitisation Transactions
In May 2021, the ECB published its decision to also supervise the credit institutions it supervises with regard to the reporting of securitisation transactions. Specifically, the powers relate to compliance with Articles 6 (risk retention), 7 (transparency) and 8 (prohibition of re-securitization) of the European Securitisation Regulation (EU) 2017/2402 and (EU) 2020/1224 (VV) . Now,