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ARTICLE · 15 JUNE 2016

Structured Finance Alert: Proposed Changes To EU Requirements For Securitisations

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The role of a Rapporteur within the EU is to present a report that has been adopted by one of the European Parliament's committees, in this case ECON.

European UnionFinance and Banking
Stuart Axford
Stuart Axford
Henry G. Morriello
Henry G. Morriello
Daniel Hartnett
Daniel Hartnett
Lawton M. Camp
Lawton M. Camp
Howard Goldwasser
Howard Goldwasser
Skanthan Vivekananda
Skanthan Vivekananda
George M. Williams Jr.
George M. Williams Jr.
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Background

Paul Tang, MEP and Rapporteur for the Committee on Economic and Monetary Affairs (known as ECON) of the European Parliament, published his proposed amendments to the Capital Requirements Directive in relation to securitisation on 6 June 2016. The amendments propose a number of substantial and potentially far reaching changes to the draft directive produced by the European Commission in September 2015.

The European Process

The role of a Rapporteur within the EU is to present a report that has been adopted by one of the European Parliament's committees, in this case ECON. These proposed legislative amendments will then be discussed by the entire parliament before being voted on. Rapporteurs produce their reports after consulting internal and external experts and debating the proposals within the committee. Consequently, Paul Tang's report is simply a proposal rather than reflecting the thinking of the European Parliament as a whole.

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