Guidelines on the STS criteria for ABCP and non-ABCP securitisation

status: Final and translated into the EU official languages

These Guidelines provide a harmonised interpretation of the criteria for the securitisation to be eligible as simple, transparent and standardised (STS). The Guidelines, which cover both non asset-backed commercial paper (ABCP) and ABCP securitisation, clarify and ensure a common understanding of all the STS criteria, including those related to the expertise of the originator and servicer, the underwriting of standards, exposures in default and credit impaired debtors, and predominant reliance on the sale of assets.

Press Release

Consultation Papers