On 12 November 2019, the European Commission published a Delegated Regulation supplementing the Securitisation Regulation with respect to regulatory technical standards (RTS) specifying the information to be provided in accordance with the ‘Simple, Transparent and Standardised’ (STS) notification requirements, together with annexes.
Article 27(6) of the Securitisation Regulation mandates the European Securities and Markets Authority (ESMA) to develop draft RTS specifying the information that originators and sponsors are required to provide in order to comply with the STS notification requirements.
The Delegated Regulation sets out the requirements to identify STS securitisations that must be notified to ESMA. The annexes provide separate STS notifications for “short-term” and “long-term” securitisations to take into account their specificities and to ensure proper identification.
The Delegated Regulation will enter into force on the twentieth day following its publication in the Official Journal of the EU.