The EBA launched today a public consultation on its discussion paper on simple, standard and transparent securitisations. The work is the initial response of the Authority to the European Commission's call for advice on identifying a prudentially sound securitisation market and its regulatory treatment, aimed at widening long-term funding opportunities for the European economy. The consultation runs until 14 January 2015.
While the EBA carries on with its work to determine the conditions to identify simple, standard and transparent products within the securitisation market, the discussion paper issued today lays down the preliminary views on defining the three pillars: simplicity, standardisation and transparency. These, together with criteria on the credit quality of the securitised assets, should shape a new class of securitisation products that are prudentially sound and may hence become subject to specific regulatory recognition.
In the discussion paper issued today, the Authority also acknowledges the wide spectrum of risks that can be embedded in securitisation processes, as well as the different historical performance of securitisation determined by these risks.
Through this public consultation, the EBA is inviting its stakeholders to provide their input and views, so as to inform its final technical advice to the European Commission, which is expected for the second quarter of 2015.
Comments to these consultations can be sent to the EBA by clicking on the "send your comments" button on the consultation page. Please note that the deadline for the submission of comments is 14 January 2015.
All contributions received will be published following the close of the consultation, unless requested otherwise. A public hearing will then take place at the EBA premises on 2 December 2014 from 10.00 to 13.00 UK time.
- ASOCIACION DE MERCADOS FINANCIEROS - AMF
- Australian Securitisation Forum
- Banking Stakeholder Group
- Barclays Bank plc
- Bundesverband der Deutschen Industrie (BDI)/ Deutsches Aktieninstitut (DAI)
- Commercial Real Estate Finance Council Europe
- Deutsche Bank
- Deutscher Industrie- und Handelskammertag e.V. (DIHK) - Association of German Chambers of Commerce and Industry
- Division Bank and Insurance, Austrian Federal Economic Chamber
- Dutch Securitisation Association
- EuroABS Limited
- European Banking Federation
- European Investment Bank Group
- European Savings and Retail Banking Group
- FRENCH BANKING FEDERATION
- Finance Watch
- German Banking Industry Committee
- German Insurance Association (GDV)
- Istituto Einaudi per gli studi bancari, finanziari e assicurativi
- Loan Market Association
- Moody's Investors Service
- Prime Collateralised Securities (PCS)
- Riolo Calderaro Crisostomo Studio Legale & Securitisation Services S.p.A.
- Risk Control Limited
- Structured Finance Industry Group, Inc.
- The Association for Financial Markets in Europe (AFME) and Joint Trade Associations
- The Investment Assocation
- Verband der Automobilindustrie e.V.
- WIR Finanzierer GmbH