European Commission Adopts Disclosure Templates For EU Securitisation Reporting

I.      Introduction

The Securitisation Regulation¹ applies to securitisations, the securities of which are issued (or where no securities are issued, the securitisation positions of which are created) on or after 1 January 2019.

On 16 October 2019, the European Commission adopted a Regulation comprising the regulatory technical standards specifying the information and the details of a securitisation to be made available by the originator, sponsor and SSPE (the "Reporting Templates RTS")².

The adoption of the Reporting Templates RTS follows on from the publication in July 2019 by the European Securities and Markets Authority ("ESMA") of additional resources to assist market participants in the implementation of the draft technical standards on disclosure requirements originally published on 31 January 2019. In this regard, ESMA updated its Questions and Answers in respect of the Securitisation Regulation (the "Q&As") and published a set of reporting