ARTICLE · 28 JUNE 2016

Irish SPVs And The Regulation On Transparency Of Securities Financing Transactions

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The Regulation on Transparency of Securities Financing Transactions was approved by the European Parliament on 29 October 2015...

IrelandFinance and Banking

Christian Donagh

Chris Quinn

Turlough Galvin

Mark O'Sullivan

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What is the regulation on transparency of securities financing transactions?

The Regulation on Transparency of Securities Financing Transactions (the SFTR) Regulation (EU) 2015/2365 was approved by the European Parliament on 29 October 2015 and forms part of the EU's initiative to enhance the transparency of securities financing markets and increase oversight and monitoring in the "shadow banking" sector. The SFTR entered into force on 12 January 2016.

Does the SFTR apply to SPVs?

Yes - in certain situations.

The SFTR applies to Irish special purpose vehicles (SPVs) entering into new securities financing transactions (SFTs) and also retrospectively to SPVs which have previously entered into SFTs but which are still outstanding as at 13 July 2016.

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