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ARTICLE · 11 MARCH 2025

ECB Fast-Track For Significant Risk Transfer (SRT) Securitisations

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Following the start of development work on an accelerated procedure for the regulatory recognition of significant risk transfer ("SRT") securitisations last year, the European Central Bank ("ECB")...

European UnionFinance and Banking
Marcel Hörauf
Marcel Hörauf
Andreas Lange
Andreas Lange
Patrick Scholl
Patrick Scholl
Alexei Döhl
Alexei Döhl
Neil Hamilton
Neil Hamilton
Ed Parker
Ed Parker
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Following the start of development work on an accelerated procedure for the regulatory recognition of significant risk transfer ("SRT") securitisations last year, the European Central Bank ("ECB") published guidance addressed to significant institutions1 ("SIs" or "SI") for certain simpler and more standardised traditional and synthetic securitisations ("SRT Fast-Track").

The new SRT Fast-Track process is currently tested by the ECB and is expected to continue until the end of the first half of 2025. Participation in the test is voluntary. The testing phase is designed as a parallel run, meaning that institutions are expected to continue to follow the  2016 ECB public guidance on the recognition of significant risk transfer (the "Public Guidance"). Thus, SIs should still inform the ECB by means of a pre-notification at the latest 3 months before the expected closing date of the securitisations. The ECB will then, on the basis of the results of the test phase,

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