+Guidelines on the STS criteria for ABCP and non-ABCP securitisation (EBA/GL/2018/09)
---+1. Compliance and reporting obligations
------+Status of these guidelines
---------+1. This document contains guidelines issued pursuant to Article 16 of Regulation (EU) No 1093/2010 …
---------+2. Guidelines set the European Banking Association (EBA) view of appropriate supervisory practices …
------+Reporting requirements
---------+3. According to Article 16(3) of Regulation (EU) No 1093/2010, competent authorities must notify …
---------+4. Notifications will be published on the EBA website, in line with Article 16(3).
---+2. Subject matter, scope and definitions
------+Subject matter
---------+5. These guidelines specify the criteria relating to simplicity, standardisation and transparency …
------+Scope of application
---------+6. These guidelines apply in relation to the criteria of simplicity, standardisation and …
---------+7. Competent authorities should apply these guidelines in accordance with the scope of application …
------+Addressees
---------+8. These guidelines are addressed to the competent authorities referred to in Article 29(1) and (5) …
---+3. Implementation
------+Date of application
---------+9. These guidelines apply from 15.05.2019.
---+4. Criteria related to simplicity
------+10. For the purposes of Article 20(1) of Regulation (EU) 2017/2402 and in order to substantiate the …
------+11. The confirmation of the aspects referred to in paragraph 10 should be achieved by the provision …
------+12. The legal opinion referred to in paragraph 11 should be accessible and made available to any …
------+13. For the purposes of Article 20(5) of Regulation (EU) 2017/2402, the transaction documentation …
------+14. For the purposes of Article 20(5) of Regulation (EU) 2017/2402, the trigger of ‘insolvency of …
------+15. For the purposes of Article 20(7) of Regulation (EU) 2017/2402, active portfolio management …
------+16. The techniques of portfolio management that should not be considered active portfolio …
------+17. For the purposes of Article 20(7) of Regulation (EU) 2017/2402, the criteria should be …
------+18. For the purposes of Article 20(7) of Regulation (EU) 2017/2402, ‘meeting the eligibility …
------+19. Eligibility criteria to be applied to the underlying exposures in accordance with paragraph 18 …
------+20. For the purposes of Article 20(8) of Regulation (EU) 2017/2402, ‘obligations that are …
------+21. For the purposes of Article 20(8) of Regulation (EU) 2017/2402, exposures with defined periodic …
------+22. For the purposes of Article 20(10) of Regulation (EU) 2017/2402, exposures should be considered …
------+23. For the purposes of Article 20(10) of Regulation (EU) 2017/2402, the underwriting standards …
------+24. Compliance with this requirement should not require either the originator or the original …
------+25. For the purposes of Article 20(10) of Regulation (EU) 2017/2402, material changes to the …
------+26. Changes to such underwriting standards should be deemed material where they refer to either of …
------+27. The disclosure of all changes to underwriting standards should include an explanation of the …
------+28. With regard to trade receivables that are not originated in the form of a loan, reference to …
------+29. For the purposes of Article 20(10) of Regulation (EU) 2017/2402, the pool of underlying …
------+30. Residential loans that were underwritten but were not marketed on the premise that the loan …
------+31. For the purposes of Article 20(10) of Regulation (EU) 2017/2402, the ‘information’ provided …
------+32. Relevant information for general non-income-generating residential mortgages should normally be …
------+33. For the purposes of Article 20(10) of Regulation (EU) 2017/2402, the assessment of the …
------+34. For the purposes of determining whether an originator or original lender has expertise in …
------+35. An originator or original lender should be deemed to have the required expertise when either of …
------+36. For the purposes of demonstrating the number of years of professional experience, the relevant …
------+37. For the purposes of the first subparagraph of Article 20(11) of Regulation (EU) 2017/2402, the …
------+38. Where an originator or original lender is not an institution and is therefore not subject to …
------+39. For the purposes of Article 20(11) of Regulation (EU) 2017/2402, the circumstances specified in …
------+40. The prohibition of the selection and transfer to SSPE of underlying exposures ‘to a …
------+41. For the purposes of Article 20(11) of Regulation (EU) 2017/2402, the ‘best knowledge’ standard …
------+42. For the purposes of Article 20(11)(a) of Regulation (EU) 2017/2402, the requirement to exclude …
------+43. The requirement referred to in Article 20(11)(b) of Regulation (EU) 2017/2402 should be limited …
------+44. For the purposes of Article 20(11)(c) of Regulation (EU) 2017/2402, the exposures should not be …
------+45. The requirement in the previous paragraph should be considered to have been met where either of …
------+46. For the purposes of Article 20(12) of Regulation (EU) 2017/2402, further advances in terms of …
------+47. For the purposes of Article 20(12) of Regulation (EU) 2017/2402, the payment referred to in the …
------+48. For the purposes of Article 20(13) of Regulation (EU) 2017/2402, transactions where all of the …
------+49. Where there are no underlying exposures in the securitisation that depend on the sale of assets …
------+50. The exemption referred to in the second subparagraph of Article 20(13) of Regulation (EU) …
---+5. Criteria related to standardisation
------+51. For the purposes of Article 21(2) of Regulation (EU) 2017/2402 in order for the interest-rate …
------+52. Where the appropriate mitigation of interest-rate and currency risks is carried out through …
------+53. Where the mitigation of interest-rate and currency risks referred to in Article 21(2) of …
------+54. The measures referred to in paragraphs 52 and 53, as well as the reasoning supporting the …
------+55. For the purpose of Article 21(2) of Regulation (EU) 2017/2402, exposures in the pool of …
------+56. For the purposes of Article 21(2) of Regulation (EU) 2017/2402, common standards in …
------+57. For the purposes of Article 21(3) of Regulation (EU) 2017/2402, interest rates that should be …
------+58. For the purposes of Article 21(3) of Regulation (EU) 2017/2402, a formula should be considered …
------+59. For the purposes of Article 21(4)(a) of Regulation (EU) 2017/2402, a list of ‘exceptional …
------+60. Given the nature of ‘exceptional circumstances’ and in order to allow some flexibility with …
------+61. For the purposes of Article 21(4)(a) of Regulation (EU) 2017/2402, the amount of cash to be …
------+62. For the purposes of Article 21(4)(a) of Regulation (EU) 2017/2402, it should be permissible to …
------+63. The requirements in Article 21(4)(b) of Regulation (EU) 2017/2402 should be understood as …
------+64. For the purposes of Article 21(4)(b) of Regulation (EU) 2017/2402, non-sequential payments of …
------+65. For the purposes of Article 21(4)(d) of Regulation (EU) 2017/2402, the investors’ decision to …
------+66. For the purposes of Article 21(5) of Regulation (EU) 2017/2402, the triggers related to the …
------+67. For the purposes of Article 21(6)(b) of Regulation (EU) 2017/2402, an insolvency-related event …
------+68. For the purposes of determining whether a servicer has expertise in servicing exposures of a …
------+69. A servicer should be deemed to have the required expertise where either of the following …
------+70. For the purpose of demonstrating the number of years of professional experience, the relevant …
------+71. For the purposes of Article 21(8) of Regulation (EU) 2017/2402, interpretation of the term …
------+72. For the purposes of Article 21(8) of Regulation (EU) 2017/2402, the servicer should be …
------+73. For the purposes of Article 21(10) of Regulation (EU) 2017/2402, provisions of the transaction …
------+74. For the purposes of Article 21(10) of Regulation (EU) 2017/2402, where mandatory statutory …
---+6. Criteria related to transparency
------+75. For the purposes of Article 22(1) of Regulation (EU) 2017/2402, where the seller cannot provide …
------+76. For the purposes of Article 22(1) of Regulation (EU) 2017/2402, the term ‘substantially similar …
------+77. The substantially similar exposures should not be limited to exposures held on the balance …
------+78. For the purposes of Article 22(2) of Regulation (EU) 2017/2402, the underlying exposures that …
------+79. For the purposes of Article 22(2) of Regulation (EU) 2017/2402, an appropriate and independent …
------+80. For the purposes of Article 22(2) of Regulation (EU) 2017/2402, the verification to be carried …
------+81. For the purposes of Article 22(2) of Regulation (EU) 2017/2402, confirmation that this …
------+82. For the purposes of Article 22(3) of Regulation (EU) 2017/2402, the representation of the …
------+83. For the purposes of Article 22(3) of Regulation (EU) 2017/2402, where the liability cash flow …
------+84. This requirement should be applicable only if the information on the energy performance …
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Guidelines on the STS criteria for ABCP and non-ABCP securitisation (EBA/GL/2018/09)

Guidelines on the STS criteria for ABCP and non-ABCP securitisation (EBA/GL/2018/09)

https://www.eba.europa.eu/activities/single-rulebook/regulatory-activities/securitisation-and-covered-bonds/guidelines-sts-criteria-abcp-and-non-abcp-securitisation – PDF

1. Forbhreathnú

,
1. Compliance and reporting obligations

1. Compliance and reporting obligations
2. Subject matter, scope and definitions

2. Subject matter, scope and definitions
3. Implementation

3. Implementation
4. Criteria related to simplicity

4.1 True sale, assignment or transfer with the same legal effect, representations and warranties (Article 20(1)-(6))

True sale, assignment or transfer with the same legal effect
5. Criteria related to standardisation

5.1 Appropriate mitigation of interest-rate and currency risks (Article 21(2))

Appropriate mitigation of interest-rate and currency risks
6. Criteria related to transparency

6.1 Data on historical default and loss performance (Article 22(1))

Data

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

Ceanglais

3. Caighdeáin ghaolmhara

Caighdeáin
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