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ARTICLE · 30 NOVEMBER 2021

ECB Consultation On Draft Securitisation Notification Guide

Matheson
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The European Central Bank ("ECB") has launched a consultation on a draft guide (the "Guide") on the notification of securitisation transactions.

IrelandFinance and Banking
Turlough Galvin
Turlough Galvin
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The European Central Bank ("ECB") has launched a consultation on a draft guide (the "Guide") on the notification of securitisation transactions.

This follows the ECB's decision in May 2021, which we wrote about at the time, to ensure that directly supervised banks (meaning "significant supervised entities" as defined in Article 2(16) of Regulation (EU) No 468/2014 of the ECB) comply with the requirements for risk retention, transparency and the ban on resecuritisation for all securitisations set out under Articles 6, 7 and 8 of the EU Securitisation Regulation.

The Guide is stated to be non-binding. The ECB recommends that banks follow the Guide for all securitisation transactions issued after 1 April 2022.

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