Following the publication in the EU Official Journal of seven technical standards relating to Regulation (EU) 2017/2402 of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, as amended (“the Securitisation Regulation”), the following elements of the new regime entered into force on 23 September 2020:
- The opening of applications for entities to register as a securitisation repository ("SR"), and
- The entry into force of new disclosure templates.
Indeed, on 23 September 2020, ESMA already announced that it had received its first application for registration as an SR and will further announce when the first SR is registered. Until that time, the relevant information must be made available via a website that meets specific requirements.
Regarding the disclosure templates, the transitional arrangements allowing reporting in other formats no longer apply. As from 23 September 2020 the disclosure templates annexed to the technical standards must be used. Guidance on how to complete these templates can be found in the Q&A on the Securitisation Regulation, last updated on 5 October 2020.
