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ARTICLE · 10 AUGUST 2021

Consultation On The EU Securitisation Framework

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The European Commission has recently published a consultation document1 with respect to the functioning of the EU securitisation framework.

European UnionFinance and Banking
Merryn Craske
Merryn Craske
Robyn Llewellyn
Robyn Llewellyn
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Introduction

The European Commission (the "Commission") has recently published a consultation document1 with respect to the functioning of the EU securitisation framework (the "Consultation Paper"). In this Legal Update we consider some of the key aspects of the Consultation Paper.

Background

The EU Securitisation Regulation2 became applicable in the European Union (the "EU") from 1 January 2019 to new securitisations and to existing securitisations entered into before that date where a new securitisation position is created on or after that date. The EU Securitisation Regulation includes requirements relating to investor due diligence, risk retention, disclosure and credit granting, as well as a ban on resecuritisation. In addition, it established a new regime for "simple, transparent and standardised", or "STS", securitisations, allowing certain investors in securitisations that meet the applicable requirements to benefit from lower regulatory capital

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