Notification and documentation

The requirement of notification to the competent authorities of any transaction, regardless of whether it provides support to the securitisation, referred to in Article 248(1) of Regulation (EU) No 575/2013 should apply to any transaction which is entered into by an originator institution or by a sponsor institution or which meets the following conditions:

• (a) it is entered into by an entity, other than the originator institution, (i) which is a parent undertaking of the originator institution, a subsidiary undertaking of the originator institution or a subsidiary undertaking of a parent undertaking of the originator institution or (ii) to or with which the originator institution or another entity contemplated in item (i) provided, directly or indirectly, any financing, support or instructions or entered into any arrangement in relation to the entering into of such transaction; and
• (b) it would be subject to these guidelines had it been entered into by the originator institution.

Where the conditions set out in subparagraphs (a) and (b) of this paragraph 25 are met, the transaction should be assessed as if it had been entered into by the originator institution.

When notifying a transaction as required pursuant to Article 248 of Regulation (EU) No 575/2013 (as further specified in paragraph 25), the originator institution or, as the case may be, the sponsor institution should:

• (a) if it claims that the transaction does not constitute implicit support, provide adequate evidence of meeting the relevant conditions set out in these guidelines; and
• (b) if the transaction is undertaken by one of the entities referred to under item (i) or (ii) of paragraph 25(a), the originator institution should also provide documentation on the type of relationship between the originator institution and the relevant entity or, as the case may be, the financing, support, instructions or arrangements provided or entered into by the originator institution to or with that entity for the purposes of undertaking the relevant transaction.