Aggregated News From Investment Management Regulators

EBA issued Guidelines on the STS criteria for securitisation

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On 20 March 2019, the European Banking Authority (EBA) issued new Guidelines on the STS criteria for securitisation (EBA/GL/2018/08) and EBA/GL/2018/09). The Guidelines will be imposed into Finnish law by the FIN-FSA’s regulations and guidelines 3/2019.

In its guidelines, the FIN-FSA recommends that entities falling within the scope of application of the guidelines comply with the above mentioned EBA Guidelines.

Guideline EBA/GL/2018/08 defines the criteria on simplicity, transparency and standardisation applicable to asset-backed commercial paper (ABCP) securitisation, as set out in Articles 24 and 26 of Regulation (EU) 2017/2402 of the European Parliament and of the Council, hereinafter referred to as the Securitisation Regulation.

Guideline EBA/GL/2018/09 presents the criteria on simplicity, transparency and standardisation applicable to non-asset backed commercial paper (non-ABCP) securitisation, as set out in Articles 20, 21 and 22 of the Securitisation Regulation.

The Guidelines apply to institutional investors and originators, sponsors, original lenders and securitisation special purpose entities (SSPEs) acting as parties involved in securitisations.

The Guidelines will enter into force on 15 May 2019.

According to Article 16(3) of the EBA Regulation (1093/2010), competent authorities and financial institutions must in all ways possible seek to comply with EBA’s Guidelines and recommendations.

For further information, please contact

Teemu Lyly, Banking Supervisor, tel. +358 9 183 5001 or teemu.lyly(at)fiva.fi

Appendices

  • Regulations and guidelines 3/2019
  • EBA’s Guidelines on the STS criteria for ABCP securitisation (EBA/GL/2018/08)
  • EBA’s Guidelines on the STS criteria for non-ABCP securitisation (EBA/GL/2018/09)
  • Securitisation Regulation (EU) 2017/2402)

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Regulator Information

Abbreviation: FIN-FSA
Jurisdiction: Finland

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