+34. For the purposes of determining whether an originator or original lender has expertise in …

34. For the purposes of determining whether an originator or original lender has expertise in …

For the purposes of determining whether an originator or original lender has expertise in originating exposures of a similar nature to those securitised in accordance with Article 26b(10), fourth subparagraph, of Regulation (EU) 2017/2402, both of the following should apply:

  • a. the members of the management body of the originator or original lender and the senior staff, other than the members of the management body, responsible for managing the originating of exposures of a similar nature to those securitised should have adequate knowledge and skills in the origination of exposures of a similar nature to those securitised;
  • b. any of the following principles on the quality of the expertise should be taken into account:
i.the role and duties of the members of the management body and the senior staff and the required capabilities should be adequate;
ii.the experience of the members of the management body and the senior staff gained in previous positions, education and training should be sufficient;
iii.the involvement of the members of the management body and the senior staff within the governance structure of the function of originating the exposures should be appropriate;
iv.in the case of a prudentially regulated entity, the regulatory authorisations or permissions held by the entity should be deemed relevant to origination of exposures of a similar nature to those securitised.

1. Overview

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1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards
  • EBA - Published by the European Banking Authority at https://www.eba.europa.eu/