Publication of final STS Securitisation texts

Published: 09 January 2018

The STS Securitisation (Regulation (EU) 2017/2402) and the updated Capital Requirement Regulation (Regulation (EU) 2017/2401) texts have now been published in the EU Official Journal. The new framework will apply from 1 January 2019, with a few limited transitional provisions related notably to the adoption of the Level 2 provisions.

The European Securities and Markets Authority (ESMA) is due to submit draft regulatory standards by 18 July 2018 regarding risk retention and by 18 January 2019 regarding specific transparency requirements. Some transitional provisions are also included regarding due diligence and risk retention requirements for some securitisations the securities of which were issued before 1 January 2019.

Implementation reports and review of the framework are respectively scheduled for 1 January 2021 and 1 January 2022.

For any questions, please contact Marie-Adelaide de Nicolay.